NSE ROUND-UP! Equities record marginal recovery

After two consecutive negative trading sessions, Nigerian equities staged a modest recovery on Tuesday as investors sought for bargain stocks ahead of the 2017 year-end returns.

Benchmark indices at the Nigerian Stock Exchange (NSE) showed a marginal day-on-day gain of 0.03 per cent, equivalent to net capital gain of N3 billion. With 21 advancers to 23 decliners, the positive overall market situation was driven largely by gains recorded by large and mid-cap stocks, especially within the consumer goods sectors.

The All Share Index (ASI)-the value-based common index that tracks share prices, increased marginally from 38,913.99 points to close at 38,924.63 points. Aggregate market value of all quoted equities also rose correspondingly from N13.553 trillion to close at N13.556 trillion. The average year-to-date return inched up to 44.84 per cent.

Most sectoral indices however closed in the negative, underlining the losses suffered by several influential stocks across the sectors. The NSE Oil & Gas Index declined by 0.4 per cent. The NSE Industrial Goods Index and NSE Insurance Index dropped by 0.3 per cent each while the NSE Banking Index dipped by 0.1 per cent. On the upside, the NSE Consumer Goods Index rose by 0.3 per cent.

Read also: Investors buy N23bn shares in Dangote Cement

Mobil Oil Nigeria led the decliners with a loss of N6.46 to close at N168.50. International Breweries followed with a loss of N1.64 to close at N54.98. PZ Cussons Nigeria dropped by 90 kobo to close at N22.10. Ecobank Transnational Incorporated lost 71 kobo to close at N17.26. Stanbic IBTC Holdings dropped by 50 kobo to close at N41.50 while Lafarge Africa declined by 44 kobo to close at N47 per share.

On the positive side, Guinness Nigeria led the advancers with a gain of N1.35 to close at N94.05. Dangote Sugar Refinery rose by 81 kobo to close at N21.50. Nascon Allied Industries appreciate by 76 kobo to close at N19.50. Union Bank of Nigeria added 72 kobo to close at N7.91. Berger Paints rose by 36 kobo to close at N7.71 while Dangote Flour Mills added 34 kobo to close at N12.

Total turnover stood at 462.67 million shares valued at N26.81 billion in 5,090 deals. Dangote Cement was the most active stock with 95.48 million shares valued at N23.31 billion. Diamond Bank followed with 51.17 million shares valued at N76.14 million while FBN Holdings placed third with 49.94 million shares worth N456.73 million.

“We expect positive performance in coming session, with bargain hunting to set in as the market moves from the oversold region,” FSDH Securities stated.

Analysts at Afrinvest Securities stated that Tuesday’s positive performance signals that the round of profit taking witnessed in the prior two trading sessions may be over, hence it is anticipated that there would be increased buy interest in trading sessions ahead.

 

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