Equities rally N80b gain as index regains 37,000

Nigerian equities sustained their bullish run for the third consecutive trading session on Thursday as increased demand for quoted shares added N80 billion capital gains to market value.

The All Share Index (ASI)-the benchmark index at the Nigerian Stock Exchange (NSE) rose by 0.62 per cent to cross the 37,000 points. The ASI rose from its opening index of 36,905.06 points to close at 37,135.23 points.

With 25 gainers to 17 losers, aggregate market value of all quoted equities on the NSE rose from its opening value of N12.720 trillion to close at N12.800 trillion, representing a gain of N80 billion. The average year-to-date return spiraled upward to 38.18 per cent.

All sectoral indices closed positive with the exception of the NSE Oil & Gas Index, which dropped by 0.2 per cent. The NSE Banking Index appreciated by 1.6 per cent. The NSE Consumer Goods Index rose by 1.0 per cent. The NSE Industrial Goods Index gained 0.2 per cent while the NSE Insurance Index inched up by 0.1 per cent.

Read also: NSE LIVE! Breweries sustain equities’ rally with N64b gain

Guinness Nigeria led the gainers with a gain of N2.13 to close at N72. Dangote Sugar Refinery followed with a gain of N1.25 to close at N14. Nigerian Breweries rallied by N1.15 to close at N172.40. Guaranty Trust Bank added N1.01 to close at N40.01. Flour Mills of Nigeria rose by 80 kobo to close at N30. Ecobank Transnational Incorporated chalked up 50 kobo to close at N17 while Cement Company of Northern Nigeria rose by 42 kobo to close at N8.94.

Total turnover stood at 412.12 million shares valued at N4.72 billion in 4,207 deals. Access Bank was the most stock with 73.54 million shares worth N735.51 million. Guaranty Trust Bank followed with 48.9 million shares worth N1.95 billion while Transnational Corporation of Nigeria ranked third with 23.4 million shares valued at N33.72 million.

On the downside, Mobil Oil Nigeria led the losers with a loss of N8.65 to close at N232. May & Baker Nigeria declined by 15 kobo to close at N3.07. Cutix lost 11 kobo to close at N2.09. Fidson Healthcare and Nascon Allied Industries dipped by 9.0 kobo each while Eterna declined by 8.0 kobo to close at N3.52 per share.

“With some half-year 2017 corporate scorecards yet to be released – especially from Tier-1 banks – we expect investor sentiment to remain largely positive for the rest of the week,” Afrinvest Securities stated.


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