September 5, 2018

Positive investors’ sentiment lifts stock market by 0.28%

Stock Market

By Peter Egwuatu

Positive investors’ sentiment on the stock market on Tuesday lifted the Nigerian Stock Exchange, NSE All Share Index higher, ASI by 0.28 percent to close at 34,933.68 points, compared, with the depreciation of 0.03 percent recorded on Monday.

The appreciation recorded in the share prices of companies such as FBN Holdings, Dangote Cement, GTBank, Dangote Cement, and Zenith Bank were mainly responsible for the gain recorded in the Index.

Similarly, the market capitalisation appreciated by 0.28 percent to close at N12.75trillion, compared with the depreciation of 0.03 percent recorded on Monday which closed at N12.718 trillion.

The Exchange recorded 23 gainers against 18 losers, with shares of GTBank , Oando Plc lifting up the NSE Banking and NSE Oil/Gas Indices by 1.41 percent and 0.27 percent respectively.

The top five gainers include AIICO Insurance which surged by 9 kobo or 10 percent to close at N0.99 per share, followed by JAIZ Bank appreciating by 4 kobo to close at N0.49 per share. C & I Leasing up by 22 kobo or 8.89 percent to close at N2.50 per share, followed by Diamond Bank which surged by 10 kobo or 8.7 percent to close at N1.25 per share, while Japaul gained 2 kobo per share to close at N0.26 per share.

Conversely, Fidson Healthcare led the laggards chart, dropping by 60 kobo per share or 10 percent to close at N5.40 per share. Trailing Fidson was PZ Industries recording N1.50 loss or 10 percent to close at N13.50 per share. Universal Insurance shed 4 kobo or10 percent to close at N0.36 per share, followed by Tripple Gee which lost 8 kobo or 9.41 percent to close at N0.77 per share, while Guinea Insurance declined by 3 kobo or 7.8 percent to close at N0.32 per share.

Also, market turnover increased by 35 billion to close at N12.75 billion as the three most actively traded stocks were UBA (54.44million), Access Bank  (38.45millionn), and Stanbic IBTC (35.22million)