NSE LIVE! High-cap stocks lift equities to marginal gain

After three consecutive negative closing positions, leading quoted equities rallied the stock market on Thursday to a marginal gain in spite of widespread selling pressure.

With 21 losers to 10 gainers, the overall market situation was dominated by the underlying sell pressure but gains by the two most capitalised companies at the stock market-Nigerian Breweries and Dangote Cement, bolstered the market.

Nigerian Breweries, the second most capitalised stock at the stock market, led the rally with a gain of N3.95 to close at N100. Dangote Cement, the most capitalised stock, followed with a gain of N1 to close at N165. The gains by the two stocks boosted the market capitalization.

Aggregate market value of all quoted equities on the Nigerian Stock Exchange (NSE) rose marginally by N7 billion from N8.826 trillion to close at N8.833 trillion. The All Share Index (ASI)-the value-based index that tracks prices of all quoted equities, inched up by 0.08 per cent to close at 25,679.03 points as against its opening index of 25,657.48 points. The average year-to-date return now stands at -10.35 per cent.

Sectoral indices showed mixed performance, with tendency towards the downtrend. The NSE Consumer Goods Index rose by 1.1 per cent. The NSE Industrial Goods Index inched up by 0.3 per cent. The NSE Banking Index declined by 1.3 per cent. The NSE Oil and Gas Index slipped by 0.4 per cent while the NSE Insurance Index dropped by 0.3 per cent.

Read also: NSE LIVE! Equities slip again as sell pressure mounts

Total turnover stood at 6.86 billion valued at N7.68 billion in 3,632 deals. The jump in turnover was due to cross deals on Wema Bank. Wema Bank was the most active with turnover of 6.66 billion shares, representing 97.1 per cent of total turnover volume. FBN Holdings followed with a turnover of 44.67 million shares while Zenith Bank recorded a turnover of 31.74 million shares.

On the downside, Guinness Nigeria led the losers with a loss of N1.51 to close at N107.99. PZ Cussons Nigeria dropped by 96 kobo to close at N24.04. Ecobank Transnational Incorporated declined by 45 kobo to close at N15. Berger Paints lost 41 kobo to close at N9.01 while Nascon Allied Industries dropped by 40 kobo to close at N7.60 per share.

 

 

 

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