As listed companies continued to release their earnings results for the nine-month ended September 30, 2018, the stock market has continued to head north in response to the results, recording longest gaining streak in almost three months.
In view of this, the Market capitalisation of the Nigerian Stock Exchange (NSE) on Monday sustained its positive trend by N44.22 billion to kick off the new week after recording gains for two consecutive trading sessions previously.
Investors’ sentiment was strengthened as 17 stocks gained as against 16 that declined, causing the market capitalisation, which opened the day’s transaction with N11.99 trillion, rose to N12.03 trillion at the close of trading.
NSE key performance indicator, the All-Share Index (ASI), appreciated by 37 basis points to 32,962.82 points, while the year-t0-date return improved to -13.7 percent.
Consequently, activity level improved as the volume and value of equities traded at the bourse surged to 21.4 percent and 239.9 percent to 212.4 million units and N4.9 billion, respectively.
The sustained bullish trend in today’s session was driven by bargain hunting in shares of Zenith International Bank, Unilever Nigeria and Seplat Petroleum Development Company.
Guaranty Trust Bank was investors’ toast today as it traded 74.19 million volume of shares. Diamond Bank followed with 42.96 million units, while U A C N transacted 16.72 million shares.
First City Monument Bank exchanged 15.50 million units, while Sterling Bank sold and bought 13.74 million units.
Read also: Understanding how to invest in bonds
In similar manner, performance across sectors was positive as four (4) out of five (5) sectors under coverage gained. The NSE Oil & Gas Index recorded the highest increase of 2.9 percent following demands for Seplat, Oando and Forte Oil.
The NSE Insurance Index gained 0.8 percent; the NSE Banking, 0.5 percent and Unilever drove the NSE Consumer Index to garner 0.4 percent. On the other hand, the NSE Industrial plunged by 2.7 percent due to losses in Lafarge Wapco.
Unilever Nigeria emerged the highest gainer with 8.20 percent to close at N47.50 per share. Custodian and Allied trailed with 7.84 percent to close at N5.50 per share, while Union Diagnostic & Clinical Services gained 7.14 percent to close at 30 Kobo per share.
Seplat Petroleum Development Company appreciated by 4.86 percent to close at N644.90 per share, while Zenith International Bank rose by 4.80 percent to close at N24 per share.
Conversely, Lafarge Wapco led the laggards with 10 percent loss to close at N18.90 per share. Neimeth International Pharmaceuticals also depreciated by 10 percent to close at 54 Kobo per share, while Mcnichols dropped 8.47 percent to close at 54 per share.
Honeywell Flour Mill shed 7.26 percent to close at N1.15 per share, while Dangote Flour Mills declined by 6.25 percent to close at N7.50 per share.
RipplesNigeria… without borders, without fears
- Father who chained 12-year-old child in animal shelter charged to court - August 13, 2020
- Delta to bar VIPs, escorts, aides not travelling from airport - August 13, 2020
- Lukman alleges plans to forcefully return Oshiomhole as APC Chairman - August 13, 2020