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Bulls return, market value soars by 0.47%

By Michael Eboh & Providence Obuh
The bullish run on the Nigerian Stock Exchange (NSE) returned, Wednesday, after the decline recorded in the All-share index, Tuesday. To this end, the value of listed equities, represented by the market capitalisation, rose by N31.60 billion.

The capitalisation rose by 0.47 per cent to N6.762 trillion from N6.731 trillion at which it opened. The All-share index also appreciated by 0.47 per cent to 27,816.29 points from 27,686.29 majority of the blue chip companies, led by UAC Nigeria Plc, with a gain of N2.65 to close at N55.70 per share,points at which it opened.

The improvement in the market indices was occasioned by gains on the share prices of  followed by Oando Oil Plc, with a gain of N2.30 to close at N115.30 per share and African Petroleum Plc soared by N1.98 to close at N41.68 per share.
Other share price gainers include: Cadbury Nigeria Plc N1.50, UAC Property Development Company Plc N1.24, Glaxo Smithkline Consumer Plc N1.20, Ashaka Cement Plc N1.05, Zenith Bank Plc N0.67, Stanbic IBTC Bank Plc N0.45, Eterna Oil and Gas Plc N0.41, among others.

On the contrary, Flour Mills Nigeria Plc recorded the highest share price loss, dropping by N2.00 to close at N69.00 per share, followed by Julius Berger Nigeria Plc with a loss of N0.88 to close at N58.55 per share and PZ Cussons Nigeria Plc shed N0.76 to close at N30.20 per share.

Other share price losers include: Okomu Oil Palm Plc N0.75, Longman Nigeria Plc N0.52, United Bank for Africa Plc N0.51, Unilever Niegria Plc N0.50, Costain (West Africa) Plc N0.43, University Press Plc N0.37, Nigeria Breweries Plc N0.32, among others.

Equity trading appreciated by 40.08 per cent, as a turnover of 720.89 million shares valued at N4.550 billion was recorded in 10,251 deals as against the previous day’s turnover of 514.63 million shares valued at N4.551 billion in 9,454 deals.

The Banking sub-sector emerged the most active in the sectorial analysis, accounting for 20.02 per cent of the market turnover, with 209.24 million shares valued at N1.906 billion in 4,854 deals.  Skye Bank Plc stocks were the most sought after in the sub-sector, trading 58..25 million shares valued at N524.11 million in 479 deals, followed by Access Bank Plc with exchange of 25.34 million shares valued at N262.33 million in 378 deals and Fidelity Bank Plc recorded 24.07 million shares valued at N73.32 million in 288 deals.

The Insurance sub-sector followed on the sectorial analysis accounting for 47.50 per cent of the market turnover with 342.41 million shares valued at N740.31 million in 572 deals.

Guaranty Trust Assurance Plc recorded the highest patronage in the sub-sector trading 260.11million shares valued at N677.04 million in 93 deals, followed by Mutual Benefit Assurance Plc with the exchange of 27.15 million shares valued at N14.22 million in 30 deals and NEM Insurance Company Nigeria Plc recorded 11.73 million shares valued at N8.05 million in 64 deals.


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