Home Business Markets Equities market indices gain N32bn in one day

Equities market indices gain N32bn in one day

287
0

Olamiposi Olatomiwa

Investors in equities market of the Nigeria Stock Exchange (NSE) gained N32.31 billion in Wednesday trading session following price appreciation in large and medium capitalized stocks.

Market capitalization gained N32.31 billion or 0.25 per cent to close trading at N12,808 trillion from N12.776 trillion it opened for trading.

The All Share Index (ASI) increased by 66.38 basis points, representing a growth of 0.25 per cent to close at 26,310.77 basis points from 26,244.39 basis points.

The market breadth closed negative, recording eight gainers and 11 losers while Year-To-Date (YTD) return moderated to 16.29 per cent from 16.50 per cent.

Meanwhile, the total volume of equities traded plummeted by 41.45 per cent to 156.85 million units while the total naira votes plunged by 34.56 per cent to N1.81 billion. 

The top traded stocks by volume were Multiverse Mining and Exploration  (25 million units), Sterling Bank (19.5 million units) and Access Bank (18.7 million units) while the top traded stocks by value were Dangote Cement (N569.9 million), Guaranty Trust Bank (N254.2 million) and MTN Nigeria (N251.8 million). 

Performance across sectors was bearish as the Industrial Goods index led the  laggards, shedding 0.7 per cent due to a loss in Lafarge WAPCO (6.6 per cent) while sell-offs in Flour Mills of Nigeria (1.8 per cent) and Champion Breweries (0.1 per cent) led to a decline in the Consumer Goods index by 32 basis points. 

Also, the Insurance index fell 0.1 per cent following sell pressures in AIICO Insurance (2.9 per cent) and LASACO Assurance (3.9 per cent).

On the flip side, the Banking index led the gainers with 0.1 per cent stemming from price appreciation in Access Bank (two per cent) while gains in MTN Nigeria (0.1 per cent) put the AFRI-ICT index in the positive region. Finally, the Oil & Gas index closed flat.

Analysts at Afrinvest Limited said, “We maintain our bearish outlook for the rest of the week in the absence of any major market drivers.

“However, we see opportunities for bargain hunting in stocks with sound fundamentals.”

University Press topped the gainers’ chart with 10 per cent to close at N1.21 per share. Law Union and Rock Insurance followed with 8.89 per cent to close at 49 kobo as UAC of Nigeria appreciated by 7.50 per cent to close at N6.45 per share.

Dangote Cement increased by 2.05 per cent to close at N149, while Access Bank garnered by 2.04 per cent to close at N7.50 per share.

On the other hands, Afromedia led the losers’ chart, reducing by 9.76 per cent to close at 37 kobo per share. Flour Mills of Nigeria followed with a loss of 9.68 per cent to close at N14, while Wema Bank was down by 6.67 per cent to close at 56 kobo per share.

Lafarge WAPCO shed 6.62 per cent to close at N13.40, as Unity Bank declined by 6.35 per cent to close at 59 kobo per share.

LEAVE A REPLY

Please enter your comment!
Please enter your name here