NSE LIVE! Equities close with marginal decline

In from Success Allantee…

The downtrend at the Nigerian stock market appeared to be easing off as the margin between advancers and decliners narrowed amidst expectations that half-year results may lift the market in the days ahead.

Aggregate market value of all quoted equities on the Nigerian Stock Exchange (NSE) dropped by N9 billion from its opening value of N10.844 trillion to close at N10.835 trillion. The All Share Index (ASI), the value-based composite index that tracks prices of all quoted equities, also dropped marginally from 31,768.23 points to close at 31,729.26 points, representing a drop of 0.12 per cent.

The extended negative trading in the past eight trading sessions built up the negative average year-to-date return at the stock market to -8.45 per cent.

With 17 advancers to 20 decliners on Friday, many analysts said they expected the market to break the downtrend as half-year results of companies trickle into the market.

Price analysis showed that Forte Oil led the losers with a drop of N5.24 to close at N180. Unilever Nigeria followed with a loss of N2.10 to close at N39.90. Nigerian Breweries dropped by 99 kobo to close at N136.51. Julius Berger Nigeria declined by 53 kobo to close at N47.97 while Honeywell Flour Mills dropped by 17 kobo to close at N3.23 per share.

Read also: NSE LIVE! Equities’ return worsens to -8.34%

Total turnover stood at 475.01 million shares valued at N3.94 billion in 3,010 deals. Multiverse was the most active stock with a turnover of 210 million shares valued at N105 million in five deals. These transactions also placed Multiverse’s natural resources sector as the most active sector, displacing the traditionally most active financial services sector. Financial services sector was the second most active sector with a turnover of 196.445 million shares worth N1.77 billion in 1,723 deals.

On the upside, Total Nigeria led the gainers with addition of N7 to close at N158. Seven-Up Bottling Company followed with a gain of N1 to close at N189. Lafarge Africa rose by 89 kobo to close at N102. Guinness Nigeria added 87 kobo to close at N139.80. Okomu Oil Palm gained 50 kobo to close at N28.50 while Nigerian Aviation Handling Company chalked up 26 kobo to close at N5.50 per share.

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