Connect with us


NSE LIVE! Equities regain strong rally with N191bn gains



After losing N462 billion last week in the first week-on-week decline in 2018, Nigerian equities reopened on Monday with a strong rally with more than three advancers for every decliner. Benchmark indices at the Nigerian Stock Exchange (NSE) showed average day-on-day return of 1.22 per cent, equivalent to net capital gain of N191 billion.

The All Share Index (ASI)-the common value-based index that tracks share prices at the Exchange rose from its opening index of 43,773.76 points to close at 44,306.48 points. Aggregate market value of all quoted equities rose correspondingly from its opening value of N15.692 trillion to close at N15.883 trillion. With this, the average year-to-date return appreciated to 15.85 per cent.

All sectoral indices closed on the upside with the exception of the NSE Consumer Goods Index, which declined by 0.7 per cent. The NSE Industrial Goods Index recorded above-average gain of 1.7 per cent. The NSE Banking Index rose by 0.9 per cent. The NSE Insurance Index rallied by 0.6 per cent while the NSE Oil & Gas Index rose by 0.3 per cent.

Dangote Cement- NSE’s most capitalised stock, led 45 other advancers with a gain of N7.94 to close at N268. Stanbic IBTC Holdings appreciated by N1 to close at N45. Forte Oil and UAC of Nigeria rose by 60 kobo each to close at N50 and N17.60. Eterna chalked up 43 kobo to close at N5.89. FBN Holdings rose by 37 kobo to close at N14. Lafarge Africa and Union Bank of Nigeria garnered 35 kobo each to close at N52.35 and N8.10 respectively. Fidelity Bank added 34 kobo to close at N3.88 while Cadbury Nigeria chalked up 29 kobo to close at N15.30 per share.

Read also: SUBSIDY: Saraki writes off NNPC, says corporation stinks of corruption

On the negative side, Guinness Nigeria led 14 other decliners with a drop of N2 to close at N110. Nigerian Breweries trailed with a loss of N1.75 to close at N150. Dangote Sugar Refinery dropped by N1.01 to close at N20.95. Flour Mills of Nigeria lost 52 kobo to close at N30.90. Guaranty Trust bank declined by 30 kobo to close at N48.70 per share. Red Star Express lost 26 kobo to close at N5.25 while NEM Insurance dipped by 5.0 kobo to close at N1.80 per share.

Total turnover stood at 573.35 million shares valued at N5.88 billion in 6,756 deals. FCMB Group was the most active stock with a turnover of 169.12 million shares valued at N547.03 million. Access Bank followed with a turnover of 42.53 million shares worth N553.48 million while United Bank for Africa (UBA) placed third with 39.52 million shares worth N513.68 million.

Analysts at FSDH Securities noted that the market gradually recovered from the oversold region with bargain hunting by investors particularly in stocks that declined in prior sessions.

“Bargain hunting by investors will drive market performance in coming sessions in anticipation of 2017 earnings seasons,” FSDH Securities stated.

Analysts at Afrinvest Securities said they expected market performance to be largely mixed, although skewed to the positive as investors position in previous decliners.


RipplesNigeria… without borders, without fears

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

Join the conversation


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