NSE LIVE! Nigerian equities net N2.17tr in 11 days

Nigerian equities rallied net capital gain of N336 billion on Tuesday to push the year-to-date gain for the 11 trading sessions so far in 2018 to N2.17 trillion. The sustained rally nudged the benchmark index to its nine-year high across the 40,000 points threshold to close at 44,054.72 points.

With nearly three advancers to every decliner, aggregate market value of all quoted equities at the Nigerian Stock Exchange (NSE) rose from its opening value of N15.447 trillion to close at N15.783 trillion, representing a net capital gain of N336 billion. The All Share Index (ASI)-the common value-based index that tracks share prices at the NSE appreciated by 2.17 per cent to hit a nine-year high at 44,054.72 points as against its opening index of 43,119.00 points.

The rally pushed the average year-to-date return to 15.2 per cent, equivalent to net capital gain of about N2.17 trillion so far this year. Aggregate market value of all quoted equities had opened 2018 at N13.609 trillion.

“Market performance was mostly strong across sectors, boosted by sustained demand. We expect the activity level witnessed in previous sessions to continue in the next trading session. However, there may be profit taking in the market,” FSDH Securities, a member of the FSDH Merchant Bank Group, stated.

All sectoral indices closed on the upside, with the exception of the NSE Industrial Goods Index, which dropped by 0.4 per cent. The NSE Banking Index appreciated by 3.9 per cent. The NSE Oil & Gas Index rose by 1.1 per cent. The NSE Insurance Index rallied by 0.9 per cent while the NSE Consumer Goods Index posted a return of 0.3 per cent.

Read also: INFLATION: Nigeria records 11th consecutive drop in Dec

11, formerly Mobil Oil Nigeria, led 45 other advancers with a gain of N9.50 to close at N199.50. Guinness Nigeria followed with a gain of N5.01 to close at N114. Dangote Cement chalked up N5 to close at N260. Julius Berger Nigeria rose by N2.75 to close at N30.97 while Zenith Bank added N1.51 to close at N33.51.

On the downside, Nestle Nigeria led 15 other decliners with a drop of N10 to close at N1,480. Lafarge Africa followed with a loss of N1.82 to close at N52.24. PZ Cussons Nigeria declined by 67 kobo to close at N23.32. UAC of Nigeria dipped by 50 kobo to close at N18. CAP lost 49 kobo to close at N37.01 while Cadbury Nigeria declined by 23 kobo to close at N16.11 per share.

Total turnover stood at 635.40 million shares valued at N7.64 billion in 7,331 deals. Access Bank was the most active stock with 158.55 million shares valued at N1.9 billion. Transnational Corporation of Nigeria followed with 89.74 million shares worth N207.6 million while FBN Holdings ranked third with 67.63 million shares worth N868.02 million.

“Going forward, we expect market performance to remain largely positive despite the possibility of profit taking by investors,” Afrinvest Securities stated.

 

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