NSE LIVE! Equities sustain rally with N35bn gain

Nigerian equities remained on the uptrend on Tuesday as large-cap stocks rallied the market to a net capital gain of N35 billion. While there were more decliners than advancers, considerable gains by large-cap stocks boosted the overall market position.

The All Share Index (ASI)-the value-based common index that tracks share prices at the Nigerian Stock Exchange (NSE), rose by 0.22 per cent from 43,513.93 points to close at 43,609.77 points. Aggregate market value of all quoted equities also improved by N35 billion from its opening value of N15.632 trillion to close at N15.667 trillion. With this, the average year-to-date return spiralled upward to 14.03 per cent.

With 26 advancers to 29 decliners, the positive overall market situation was driven by gains recorded by large-cap stocks in the banking, oil and gas and manufacturing sectors. The NSE Oil & Gas Index recorded above-average gain of 1.4 per cent. The NSE Consumer Goods Index posted a gain of 0.9 per cent. The NSE Insurance Index rose by 0.1 per cent while the NSE Industrial Goods Index inched up by 0.01 per cent. However, the NSE Banking Index dipped by 0.3 per cent.

Seplat Petroleum Development Company led the advancers with a gain of N25 to close at N785. Unilever Nigeria followed with a gain of N5.50 to close at N59.60. Flour Mills of Nigeria appreciated by N1.55 to close at N34.60. Dangote Sugar Refinery rose by N1.05 to close at N22.50. Nascon Allied Industries rose by 70 kobo to close at N24.50. Dangote Flour Mills and Union Bank of Nigeria added 30 kobo each to close at N16.50 and N7.35 respectively while Caverton Offshore Support Group rose by 24 kobo to close at N2.67 per share.

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On the downside, Nestle Nigeria led the decliners with a loss of N20 to close at N1,380. Total Nigeria followed with a drop of N4 to close at N250. Guaranty Trust Bank lost 85 kobo to close at N48.50. Access Bank declined by 30 kobo to close at N13.15. Vitafoam Nigeria dropped by 14 kobo to close at N2.85 per share while Dangote Cement and UACN Property Development Company lost 10 kobo each to close at N274.90 and N3 respectively.

The momentum of activities improved as investors exchanged a total turnover of 445.50 million shares worth N5.96 billion in 5,078 deals. Banking stocks dominated the top activities chart. Sterling Bank was the most active with a turnover of 101.91 million shares valued at N191.59 million. Fidelity Bank followed with a turnover of 49.22 million shares worth N147.66 million while Zenith Bank placed third with a turnover of 37.85 million shares worth N1.18 billion.

“In the interim, we expect a mixed market mood at tomorrow (Wednesday)’s session, while earnings scorecard expectation still remains the dominant theme in shaping investors’ sentiment,” analysts at SCM Capital stated.

 

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