Equities bullish with N213bn gain as investors trade N11.5bn shares

Equities make rebound attempt with N30bn gain In a struggle between the bear and bull camps, the bulls managed to reclaim the trading floor of the Nigerian Exchange Limited on Wednesday by closing the session on N30 billion gain. The gain of the day was however a mere attempt to recover a whooping loss of N340 billion to sell-offs in the preceding session. Business Metrics also observed that the N30 billion profit was a narrow escape from another bearish experience that prevailed for most of trading hours of the day before activities in the shares or MTN Nigeria at the eleventh hour averted the crisis and thus, spurred the first gain of the week. As MTN gained 1.2 per cent to close the day, the benchmark index inched higher by 0.15 per cent to 38,564.70 basis points, while market capitalisation followed suit to close higher at N20.099 trillion. Consequently, the Month-to-Date (MtD) return increased to +0.3 per cent, while the Year-to-Date (YtD) loss moderated to -4.2 per cent. Sectoral performance was mixed, as the Oil & Gas and consumer goods indices gained +0.9 per cent and +0.2 per cent respectively, while the insurance and banking indices closed in the red by -0.5 per cenr and -0.3 per cent in that order. The Industrial Goods index was flat. Turnover for the session was mixed as total volume traded increased by 1.81 per cent against shrinking trade value that plunged by 23.02 per cent. At the close of the session, investors collectively traded 302.72 million share units, valued at N2.81 billion, and exchanged in 4,387 deals. This is in contrast with 297.34 million shares worth N3.65 billion that exchanged hands in 4,402 transactions in the previous session. According to trading statistics obtained from the Nigerian Exchange Limited, STERLNBANK was the most traded stock by volume at 37.47 million units, while GUARANTY was the most traded stock by value at N745.34 million. As measured by market breadth, market sentiment turned positive (1.4x) as 27 tickers gained, relative to 20 losers. CORNERST and MORISON recorded highest gains of the day as they appreciated by 10.0 per cent and 9.7 respectively. On the flip side, while both ABBEYBDS and CHIPLC shed -9.5 per cent in share prices to top the losers’ list.

Equities bullish with N213bn gain as investors trade N11.5bn shares


 

It was yet another day for equity investors in Nigeria to smile all the way to the bank as the domestic equities market maintained gaining streak.

The All-Share Index (ASI) notched a 1.03 per cent gain to close at 39,512.39 basis points on Wednesday.

This is equivalent to N213 billion profit for investors and as such, market capitalization of the equity market hit N20.66 trillion to close the session, higher than N20.447 trillion it closed the previous session.

Meanwhile, the positive performance was supported strongly by interests in BUACEMENT (+10.0 per cent), INTBREW (+10.0 per cent) and FBNH (+1.4 per cent). Accordingly, Month-to-Date (MtD) and Year-to-Date (YtD) gain increased to +12.8 per cent and +47.2 per cent, respectively.

In terms of sectoral performance, the Industrial Goods, insurance and consumer goods indices appreciated by 3.7 per cent, 3.0 per cent and 0.4 per cent respectively; while the banking and oil & gas indices dipped by 0.7 per cent and 0.4 per cent in that order.

Equities bullish with N213bn gain
NSE Trading Floor

Performance level was however mixed with total volumes of trade declining by 48.39 per cent at 372.93 million while traded volume swelled up significantly by 162.43 per cent at N11.503 billion in 5,186 transactions.

Market sentiment, as measured by market breadth, was positive as 23 tickers gained, relative to 19 losers.

TOP Gainers

  • BUACEMENT gained N6.4o to close at N70.40 per share
  • INTBREW gained N0.59 to close at N6.49 per share
  • ETERNA gained N0.51 to close at N5.61 per share
  • CILeasing gained N0.42 to close at N4.73 per share
  • NEM gained N0.14 to close at N1.63 per share

Top Decliners

  • FLOURMILL shed N1.50 to close at N26 per share
  • UBN trailed with N0.30 to close at N5.30 per share
  • Guinness lost N0.30 to close at N19 per share
  • GUARANTY lost N0.2 to close at N32.5 per share
  • ACCESS shed N0.20 to close at N8.75 per share

Turnover Movers

  • Dangote Cement traded 33.166 million shares at N8.041 billion in 432 trades
  • Zenith Bank traded 27.542 million shares vakued at N690.852 in 485 deals
  • United Bank for Africa moved 60.57 million share worth N524.734 million in 304 transactions