NSE LIVE! High-cap stocks boost equities with N25b gain
Connect with us

Business

NSE LIVE! High-cap stocks boost equities with N25b gain

Published

on

NSE RoundUp! Nigerian equities in slow Q3 start with N255bn loss

Equities regained the uptrend on Wednesday as highly capitalised stocks broke a tight market to return the overall market position to the upside with a gain of N25 billion.

With a tight between losers and gainers, gains recorded by highly capitalised stocks including the two most capitalised stocks-Dangote Cement and Nigerian Breweries, buoyed the overall market position.

Aggregate market value of all quoted companies rose from N9.551 trillion to close at N9.576 trillion, indicating net capital gain of N25 billion.

The All Share Index (ASI), the benchmark index that tracks prices at the Nigerian Stock Exchange (NSE), improved by 0.25 per cent to close at 27,880.46 points as against its opening index of 27,810.28 points. The average year-to-date return, though still negative, improved to -2.66 per cent.

Most sectoral indices remained on the uptrend. The NSE Oil & Gas Index appreciated by 1.7 per cent. The NSE Industrial Goods Index and the NSE Banking Index rose by 0.2 per cent each. The NSE Consumer Goods Index also appreciated by 0.1 per cent. However, the NSE Insurance Index declined by 0.2 per cent, its second consecutive fall.

Forte Oil led the 17-stock gainers’ list with a gain of N8.50 to close at N178.60. Nigerian Breweries, the second most capitalised stock, rose by N1.42 to close at N141.75. Dangote Cement, the most capitalised stock, rallied 50 kobo to close at N180.50.

Guaranty Trust Bank added 36 kobo to close at N26.26 while Ecobank Transnational Incorporated chalked up 26 kobo to close at N11.45 per share.

Total turnover stood at 230.29 billion shares valued at N2.96 billion in 3,002 deals. The most active stock was Guaranty Trust Bank with a turnover of 37.86 million shares worth N992.57 million. Zenith Bank followed with a turnover of 30.39 million shares valued at N465.28 million while Fidelity Bank placed third with a turnover of 30.1 million shares worth N30.36 million.

“As investors speculate on the performance of companies yet to turn in half year numbers, market performance this week has been largely shaped by bargain hunting. We expect more bargain hunting activities to ensue and project the benchmark index to close in the green in the next trading session,” Afrinvest Securities, a Lagos-based trader on the NSE, stated.

On the negative side, Nestle Nigeria led the 17-stock losers’ list with a loss of N10 to close at N825. Zenith Bank dropped by 17 kobo to close at N15.59. Access Bank slipped by 15 kobo to close at N5.65. Diamond Bank declined by 11 kobo to N1.12 while Champion Breweries dropped by 9.0 kobo to close at N2.66 per share.

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Join the conversation

Investigations

Sports

Latest Tech News