NSE LIVE! Equities gain N298b in 2015 closing trades

Nigerian equities sustained their massive last-minute rally for the second consecutive day as intense bargain-hunting and year-end portfolio realignments combined to add N298 billion to market capitalisation of quoted companies.

With nearly six gainers for every loser, the last trading session of 2015 was marked by exceedingly high positive sentiments. Aggregate market value of all quoted equities rose from N9.553 trillion to close at N9.851 trillion, representing an increase of N298 billion.
The All Share Index (ASI)-the value-based common index that tracks prices of all quoted companies, also rose by 3.11 per cent to close at 28,642.25 points as against its opening index of 27,777.83 points. The last two trading sessions at the stock market showed massive share price rallies, notwithstanding the cash demand for the festive season. Quoted equities had rallied N351 billion or 3.79 per cent gain on Wednesday.

However, the market closed with average-year-to-date return of -17.36 per cent, underlining the worsened negative sentiments that had characterized the market in the previous months.

Nestle Nigeria led the gainers yesterday with a gain of N35 to close at N860. Forte Oil followed with a gain of N15 to close at N330. Nigerian Breweries rose by N12 to close at N136. Dangote Cement added N5.05 to close at N170. Mobil Oil Nigeria rose by N5 to close at N160. Lafarge Africa gathered N4.30 to close at N96.80. Beta Glass rose by N2.52 to close at N53.45. Okomu Oil Palm chalked up N1.62 to close at N30.30. GlaxoSmithKline Consumer Nigeria rose by 95 kobo to close at N34.20 while Ecobank Transnational Incorporated added 80 kobo to close at N16.80 per share.

You may also like: NSE LIVE! Equities rally N351b gain in last-minute rush

“We believe the rally observed in the last two trading days of the year remained associated with the end of the year portfolio adjustment by fund managers. With the expectation for massive capital spending and expansive budget in 2016, we anticipate a better performance for Nigerian equities in 2016 however key risk in the horizon remains exchange rate uncertainties and a bearish oil price outlook,” Afrinvest Securities, a Lagos-based investment firm, stated in its closing note for 2015.

Total turnover stood at 252.16 million shares worth N3.85 billion in 2,168 deals. FBN Holdings was the most active stock with a turnover of 141.19 million shares worth N715.12 million in 303 deals.

On the other hand, Julius Berger Nigeria led the losers with a loss of N1 to close at N42. Cadbury Nigeria dropped by 90 kobo to close at N17.15. Cutix slipped by five kobo to close at N1.66. Skye Bank lost four kobo to close at N1.58 while Fidson Healthcare declined by three kobo to close at N2.50 per share.

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now