Friday 30 June 2017

NSE LIVE! Equities’ rally gathers momentum with N212bn gain

Nigerian equities continued on the uptrend on Thursday with investors earning N212 billion in net capital gains within the five hours of trading at the rally at the Nigerian Stock Exchange (NSE).

Aggregate market value of all quoted equities at the NSE rose from its opening value of N11.293 trillion to close at N11.505 trillion, representing a gain of N212 billion. The All Share Index (ASI)-the common value-based index that tracks share prices at the Exchange rose by 1.9 per cent to close at 33,269.84 points as against its opening index of 32,657.30 points. With this, the average year-to-date return improved to 23.8 per cent.
All sectoral indices also closed in the green, reflecting the widespread positive sentiments across the sectors. The NSE Industrial Goods Index rose by 2.3 per cent. The NSE Consumer Goods Index appreciated by 1.6 per cent. The NSE Banking Index rose by 1.5 per cent. The NSE Oil & Gas Index appreciated by 1.2 per cent while the NSE Insurance Index inched up by 0.2 per cent.
There were 37 advancers against 14 decliners. Seplat Petroleum Development Company recorded the highest gain of N5 to close at N465. Dangote Cement-the most capitalised quoted company, trailed with a gain of N4.98 to close at N204.98. Nigerian Breweries-the second most capitalised company, rose by N4.19 to close at N158.72. PZ Cussons Nigeria added N2.07 to close at N22.97while Mobil Oil Nigeria chalked up N2.02 to close at N250.02.
On the other hand, CAP recorded the highest loss of N1.25 to close at N32. Guaranty Trust Bank followed with a drop of 30 kobo to close at N35.70. May & Baker Nigeria lost 22 kobo to close at N4.29 per share. Livestock Feeds declined by 5.0 kobo to close at N1 while Transnational Corporation of Nigeria, Trans Nationwide Express and Neimeth Pharmaceutical International dropped by 4.0 kobo each to close at N1.46, 83 kobo and 90 kobo respectively.
Total turnover rose above average with the exchange of 439.2 million shares valued at N4.8 billion. United Bank for Africa was the most active stock with 176 million shares valued at N 1.62 billion. Access Bank followed with 58.83 million shares valued at N512.58 million while Transnational Corporation of Nigeria ranked third with 43.82 million shares worth N63.83 million.
“Whilst we believe that the equities market will continue to ride on the positive macroeconomic developments in the economy – improved flexibility in the administration of foreign exchange and anticipated strong second quarter earnings- we do not rule out the possibility of some end of the week profit taking,” analysts at Afrinvest Securities stated.

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