NSE LIVE! Equities sustain rally as demand rises

sNigerian equities extended their upswing to the third consecutive day on Thursday as investors increased buy orders for quoted shares. Key benchmark indices at the Nigerian Stock Exchange (NSE) indicated improved investment appetites with the total value of all quoted equities rising by N43 billion.

The All Share Index (ASI) – the common-share value-based index that tracks prices of all quoted equities on the NSE, rose by 0.50 per cent to close at 24,909.88 points as against its opening index of 24,784.95 points.

Aggregate market value of all quoted equities also rose from N8.526 trillion to close at N8.569 trillion, indicating capital gains of N43 billion. The gains on Thursday further reduced the negative overhang at the stock market as the average year-to-date return improved to -13.03 per cent.

Turnover also was above recent average with the exchange of 178.78 million shares valued at N1.18 billion in 3,223 deals. Banks dominated the activities chart. The three most active stocks were Zenith Bank, with 21.55 million shares; Guaranty Trust Bank, with 21.51 million shares and FBN Holdings, which recorded a turnover of 17.07 million shares. Altogether, financial services stocks accounted for 145.58 million shares, 81.4 per cent of the total turnover.

Sectoral and group indices showed widespread positive sentiments. The NSE Banking Index rallied 1.5 per cent. The NSE Oil & Gas Index and NSE Consumer Goods Index appreciated by 0.7 per cent each. The NSE Insurance Index rose by 0.6 per cent while the NSE Industrial Goods Index inched up by 0.04 per cent.

Mobil Oil Nigeria led 25 other stocks on the gainers’ list, rising by N5.01 to close at N154.01. Nigerian Breweries followed with a again of N1.88 to close at N105.02. Seplat Petroleum Development Company rallied N1 to close at N336. Berger Paints gathered 42 kobo to close at N8.94. Zenith Bank gathered 33 kobo to close at N12.13. Cement Company of Northern Nigeria rose by 32 kobo to close at N6.77. Tiger Branded Consumer Goods added 26 kobo to close at N2.91. Access Bank and Union Bank of Nigeria chalked up 22 kobo each to close at N3.98 and N4.87 respectively while Flour Mills of Nigeria, Oando and UACN Property Development Company rose by 20 kobo each to close at N20.20, N4.50 and N4.40 respectively.

On the downside, 17 stocks suffered losses, with Seven-Up Bottling Company leading with a loss of N4.41 to close at N142.59. Okomu Oil Palm declined by N1.20 to close at N28.80. Union Homes lost 41 kobo to close at N3.87. Champion Breweries dropped by 15 kobo to close at N2.95 while Premier Breweries lost 14 kobo to close at N2.81 per share.

 

 

 

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