NSE LIVE! Equities moderate losses wane

In from Success Allantee . . .

Nigerian equities showed further resilience on Thursday as the number of advancers increased and the momentum of losses waned considerably. The benchmark index at the Nigerian Stock Exchange (NSE) was almost flat with a marginal decline of 0.01 per cent on Thursday as against decline of 0.07 per cent on Wednesday.
The All Share Index (ASI), the value-based common index that tracks prices of all quoted equities, slipped from 29,032.44 points to close at 29,030.97 points. Aggregate market value of all quoted equities stood at N9.980 trillion as against opening value of N9.978 trillion. Average year to date return stood at -16.23 points.
Unilever Nigeria topped the 25-stock losers’ list with a loss of N1.75 to close at N31.43. Okomu Oil Palm dropped by N1.38 to close at N28.82. Lafarge Africa declined by N1 to close at N95. Nigerian Breweries lost 94 kobo to close at N135.06. Flour Mills of Nigeria dropped by 40 kobo to close at N21.80. UACN Property Development Company slipped by 33 kobo to close at N6.32. Zenith Bank lost 19 kobo to close at N17.50. Caverton Offshore Support Group and Fidson Healthcare dropped by 15 kobo each to close at N2.90 and N2.93 respectively while Dangote Flour Mills slipped by 12 kobo to close at N2.31 per share.
Total turnover stood at 295.22 million shares worth N5.07 billion in 3,812 deals. Zenith Bank was the most active stock with a turnover of 62.28 million shares worth N1.08 billion. Transnational Corporation of Nigeria placed second on the activity chart with a turnover of 35.9 million shares worth N60.5 million while United Bank for Africa ranked third with 32.2 million shares worth N112.3 million.
“We believe the sustained moderation in losses as well as improvement in sentiments as observed today further signals a glimmer of hope for the equities market in the near term. On the basis of the above, we expect investors to further cash in on cheaply valued stocks,” said analysts at Afrinvest Securities.

Read also: NSE LIVE! Equities show respite amidst continuing decline

On the upside, Guinness Nigeria led 18 other stocks with a gain of N6.82 to close at N143.24. International Breweries followed with a gain of 75 kobo to close at N16. Julius Berger Nigeria added 69 kobo to close at N39.50. Stanbic IBTC Holdings rose by 41 kobo to close at N20.26. Oando added 38 kobo to close at N7.36. Ikeja Hotels gathered 13 kobo to close at N3.21. FBN Holdings rose by 11 kobo to close at N5.10 while Mansard Insurance, Diamond Bank and Eterna rose by 7.0 kobo each to close at N2.60, N2.50 and N1.69 respectively.

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