NSE LIVE! NB drags equities to N12bn loss in opening trades

The underlying sentiment at the Nigerian stock market remained bullish as the market reopened on Monday but losses recorded by some highly capitalised stocks, especially Nigerian Breweries (NB) Plc, dragged the overall market position to the negative.

With 26 advancers to 18 decliners and most sectoral indices on the upside, the market situation was largely positive as bargain-hunters continued the bid for value stocks. But profit-taking transaction on NB, Nigeria’s second most capitalised company, impinged on the closing position of the market.

The stock market had witnessed a sustained four-day consecutive rally since last Tuesday, building up considerable enticement for profit-taking.

The All Share Index (ASI)-the value-based common index that tracks prices at the Nigerian Stock Exchange (NSE) declined marginally by 0.12 per cent from its opening index of 28,113.38 points to close at 28,078.30 points. Aggregate market value of all quoted equities on the NSE also dropped marginally by N12 billion from its opening value of N9.719 trillion to close at N9.707 trillion. The average year-to-date return was moderated to 4.48 per cent.

Read also: NSE RoundUp! Nigerian equities in marginal contraction amidst profit-taking

Most sectoral indices closed in the green. The NSE Oil & Gas Index appreciated by 0.4 per cent while the NSE Insurance Index and NSE Industrial Goods Index rose slightly by 0.1 per cent each. On the other hand, the NSE Consumer Goods Index declined by 0.7 per cent while the NSE Banking Index slipped by 0.03 per cent.

On the downside, Nigerian Breweries led the losers with a drop of N3.12 to close at N140.84. Presco followed with a loss of N1 to close at N48. Cadbury Nigeria declined by 53 kobo to close at N10.12. Ecobank Transnational Incorporated dropped by 49 kobo to close at N9.31 while UAC of Nigeria lost 34 kobo to close at N14.56 per share.

Nigerian Breweries recorded the highest loss of N3.12 to close at N140.84. Presco followed with a loss of N1 to close at N48. Cadbury Nigeria dropped by 53 kobo to close at N10.12. Ecobank Transnational Incorporated declined by 49 kobo to close at N9.31. UAC of Nigeria dropped by 34 kobo to close at N14.56 per share. Nascon Allied Industries lost 25 kobo to close at N8.50. Red Star Express declined by 20 kobo to close at N4.21 while Zenith Bank and Oando dipped by 19 kobo each to close at N17.70 and N9.10 respectively.

On the upside, Seplat Petroleum Development Company led the advancers with a gain of N5.20 to close at N372.70. Total Nigeria rose by N5 to close at N270. Nestle Nigeria added N1 to close at N836. Okomu Oil Palm and PZ Cussons Nigeria chalked up 90 kobo each to close at N50.90 and N18.90 respectively. Guaranty Trust Bank gathered 50 kobo to close at N32 per share. Dangote Flour Mills rose by 26 kobo to close at N4.34. Cement Company of Northern Nigeria appreciated by 23 kobo to close at N4.83. Dangote Sugar Refinery rose by 21 kobo to close at N7 while Transcorp Hotels added 11 kobo to close at N5.15 per share.

Total turnover was below recent average with the exchange of 208.33 million shares valued at N3.74 billion in 3,498 deals. Banking stocks dominated the activities’ chart. Diamond Bank was the most active stock with a turnover of 36.89 million shares valued at N34.33 million. Zenith Bank followed with 29.86 million shares worth N534.06 million while Guaranty Trust Bank placed third with 22.14 million shares valued at N708.45 million.

 

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