NSE opens week with N82bn gain

Stock bull

The Nigerian Stock Exchange (NSE) opened the week with positive trading on Monday resulting in N82 billion gain for investors in the domestic equities market.

Specifically, the All Share Index (NS) which is the tracker of share prices in the market notched a 0.45 per cent increase to close 35,042.14 basis points while the aggregate value of equity investment in the market hit N18.31 trillion.

The performance was supported by significant interest in AIRTELAFRI (+10.0 per cent) from foreign investors, as they exploited the fungible stock as a means of exiting the Nigerian market.

Consequently, Month-to-Date (MtD) and Year-to-Date (YtD) return increased to +14.8 per cent and +30.6 per cent, respectively.

Sector performance

  • NSE Banking Index: Down by -2.49%, on sell-offs in GUARANTY (-5.14%), ETI (-2.33%) and ZENITHBANK (-1.84%)
  • NSE Industrial Index: Fell by 0.68% due to the price decline BUACEMENT (-1.79%)
  • NSE Consumer Goods Index: Dipped by -0.44%, as NNFM (-10.00%), UNILEVER (-5.82%) and PZ (-2.91%) closed north
  • NSE Insurance Index: Advanced by +1.63%, on price appreciation in AIICO (+10.00%) and NEM (+3.24%)
  • NSE Oil & Gas Index: Inched by 0.01%, due to gain in OANDO (+0.67%)

In terms of activity level, market turnover advanced  following 118 per cent and 47 per cent uptick in the total volume and value of trades respectively at 415.532 million share units, valued at N4.898 billion respectively, and exchanged in 5,267 deals..

MULTIVERSE was the most traded stock by volume at 84.00 million units while ZENITHBANK was the most traded stock by value at N1.13 billion.

However, Market sentiment, as measured by market breadth, was negative as 29 tickers declined, relative to 17 gainers.

According to NSE trading data, AirtelAfrica led other gainers with N53.50 gain to close at N588.50. MTN Nigeria trailed with N0.20 gain to close at N155.20 per share while AIICO and UBN added N0.10 to their share prices to close at N1.10 and N65.60 per share respectively. FCMB gained N0.80 to close the day higher at N3.35 per share.

On the flip side, GTbank slid by N1.8 to close lower at N33.2 per share while Buacement and Unilever shed N1 and N0.80 to close at N55 and N12.95 per share respectively. Other decliners include NNFM and FIDSON, shedding n0.77 and N0.54 to close at N6.93 and N4.93 per share respectively.