Business

NSE LIVE! Equities rebound with N49bn gain

NSE LIVE! Equities lose N54bn as profit-taking resumes

After losing N236 billion in a major contraction on Wednesday, Nigerian equities recovered on Thursday amidst increased bargain-hunting for consumer goods manufacturers and banking stocks.

Benchmark indices at the Nigerian Stock Exchange (NSE) showed average day-on-day gain of 0.32 per cent, representing net capital gain of N49 billion. The average year-to-date return for Nigerian equities thus improved to 12.68 per cent.

Aggregate market value of all quoted equities rose from its opening value of N15.431 trillion to close at N15.480 trillion. The All Share Index (ASI)-the common value-based index that tracks share prices at the Exchange, improved from its opening index of 42,952.70 points to close at 43,090.55 points.

While there were 30 advancers against 28 decliners, losses by many large-cap sectoral leaders. The NSE Consumer Goods Index appreciated by 0.9 per cent while the NSE Banking Index rose by 0.7 per cent. On the downside, the NSE Insurance Index dropped by 0.9 per cent. The NSE Industrial Goods Index fell by 0.5 per cent while the NSE Oil & Gas Index slipped by 0.03 per cent.

“We expect this positive performance to be sustained till the end of the week as investors continue to seek bargain opportunities in the market,” Afrinvest Securities stated on the positive overall market position.

Read also: Dana Air responds to FG’s audit order

Unilever Nigeria led the advancers with a gain of N4.50 to close at N64.60. Stanbic IBTC Holdings followed with a gain of N2.35 to close at N49.35. Guinness Nigeria and Guaranty Trust Bank rose by N1.40 each to close at N99.50 and N49 respectively. Flour Mills of Nigeria gathered N1 to close at N37 while Nigerian Breweries rose by 90 kobo to close at N126.50 per share.

On the negative side, Presco led the decliners with a loss of N3.65 to close at N74.35. Dangote Cement followed with a loss of N3 to close at N262. Dangote Sugar Refinery and Union Bank of Nigeria declined by 30 kobo each to close at N22.20 and N7.05 respectively while Nascon Allied Industries and Zenith Bank lost 20 Kobo each to close at N24.55 and N31 respectively.

Total turnover stood at 574.81 million shares valued at N3.39 billion in 4,340 deals. Capital Oil was the most active with a turnover of 308.81 million shares valued at N142.05 million. Japaul Oil & Maritime Services followed with a turnover of 24.03 million shares worth N21.38 million while Multiverse Mining placed third with 17.5 million shares worth N4.07 million.

“We expect the current positive sentiment to persist,” SCM Capital stated.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

/* ]]> */