NSE, Nigerian Stock Exchange, Market capitalisation
Nigerian Stock Exchange

By Peter Egwuatu

The Nigeria equity market  closed green today  (Monday ) as the Nigerian Stock Exchange, All-Share Index (ASI) rose 0.6 percent or 60 bases points , bps to settle at 26,695.18 points.

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The increase in ASI was impacted by gains recorded in Dangote Cement which went up by 1.4 percent, Access Bank 4.3 percent and UBA 6.1 percent.

Market capitalisation grew by N76.7 billion to N12.8trilion as Year to Date, YtD loss eased to -15.1 percent.

Activity level improved as volume and value traded advanced 9.8 percent and 43.2 percent to 170.5million units and N2.1billion respectively. In terms of trading activity, the banking stocks led the chart as Access Bank recorded (41.2million units), UBA (29.2million units) and Zenith Bank (25.6million units) while Zenith Bank (N479.8million), Access Bank (N396.9million) and Guaranty Trust Bank (N332.9million) led the value chart.

Meanwhile, the performance across sectors was bullish as major Indices advanced except the AFR-ICT Index that closed flat.

The Banking Index led the pack, up 1.6 percent due to gains in Access Bank (+4.3 percent) UBA (+9.4 percent) and Guaranty Trust Bank (+1.1 percent). The Industrial and Consumer Goods Indices trailed, rising 1.0 percent and 0.4 percent  respectively on the back of buying interest in Dangote Cement (+1.4 percent ), WAPCO (+1.8 percent ), Guinness Nigeria  (+9.8 percent ) and PZ (+9.5 percent ).

The Insurance and Oil & Gas Indices rose 0.3 percent  and 0.1 percent  respectively following price appreciation in NEM Insurance which surged by  (+2.6 percent ) and OANDO (+0.8 percent ).

Investor sentiment as measured by market breadth strengthened with 17 stocks advancing against eight that declined.

Guinness led the gainers’ chart rising by (+9.8 percent), PZ (+9.5 percent) and A.G Leventis  (+7.7 percent ) were the best performing stocks while Cornerstone dropped  (-9.1 percent ), Neimeth (-9.1 percent ) and UPL (-8.3 percent ) led laggards.

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Analysts at Afrinvest Research stated: “Despite today’s performance, we are not optimistic of a sustainable rebound in the equities market in the near term.”

Vanguard

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