NSE LIVE! Equities gain N29b in 5th consecutive rally

For the fifth consecutive trading session, Nigerian equities defied the cash demand for the Eid ul Mubarak, Muslims’ main festival celebrated by more than half of Nigerian population, and continued on a sustained though modest rally on Thursday.

With 28 advancers to 16 decliners, the bullish rally at the stock market gathered momentum on Thursday as investors sought to take larger positions in highly capitalised stocks in the building materials and oil and gas sectors. Within the five hours of trading at the Nigerian Stock Exchange (NSE), investors gained N29 billion in net capital appreciation.

Aggregate market value of all quoted equities on the Nigerian Stock Exchange (NSE) rose from its opening value of N9.495 trillion to close at N9.524 trillion, indicating net capital gain of N29 billion.The All Share Index (ASI), the common value-based index that tracks prices at the Exchange, rose by 0.30 per cent to close at 27,725.40 points as against its opening index of 27,642.13 points. With this, the negative average year-to-date return moderated to -3.20 per cent.

Group and sectoral indices showed widespread positive sentiments across the sectors. The NSE Oil & Gas Index recorded the highest gain of 1.2 per cent. The NSE Industrial Goods Index rose by 0.5 per cent The NSE Consumer Goods Index appreciated by 0.4 per cent while the NSE Insurance Index inched up by 0.3 per cent. However, the NSE Banking Index declined by 0.8 per cent.

Total Nigeria led the gainers’ list with a gain of N8.92 to close at N250. Seplat Petroleum Development Company rose by N5 to close at N325. Unilever Nigeria added N2.87 to close at N45.15. Conoil chalked up N2.68 to close at N28.89. Dangote Cement rose by N1.49 to close at N176. CAP rallied 76 kobo to close at N32.76. GlaxoSmithKline Consumer Nigeria added 49 kobo to close at N19.60 per share. Stanbic IBTC Holdings rose by 28 kobo to N15.50. Africa Prudential Registrars chalked up 22 kobo to close at N2.82 while UAC of Nigeria gathered 20 kobo to close at N21 per share.

On the negative side, Guaranty Trust Bank topped the losers’ list with a loss of 50 kobo to close at N226.50. UACN Property Development Company and Neimeth Pharmaceutical International followed with a loss of 10 kobo each to close at N3.40 and N1.08 respectively. Champion Breweries dropped by 8.0 kobo to close at N2.47 while United Bank for Africa slipped by 7.0 kobo to close at N4.21 per share.

Total turnover remained around average with the exchange of 200.3 million shares valued at N1.60 billion in 3,257 deals. Financial services dominated the top activities chart. FCMB Group was the most active stock with a turnover of 49.38 million shares valued at N49.38 million. Access Bank followed with a turnover of 23.49 million shares worth N130.7 million. NEM Insurance placed third with a turnover of 17.12 million shares valued at N13.7 million.

“After sustaining uptrend for five consecutive sessions, we believe speculators may take profit in the subsequent session. However, we do not rule out the possibility of the market closing the week on a positive note,” analysts at FSDH Securities stated.

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