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BUA, Seplat, Dangote Cement lift NSE Index higher by 0.5%

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NSE, Nigerian Stock Exchange, Market capitalisation
Nigerian Stock Exchange

By Peter Egwuatu

The equities market on the Nigerian Stock Exchange, NSE ended today’s session Thursday in the green as the All Share Index, ASI gained 45 bases points, bps or 0.5 to settle at 29,591.29 points.

The day’s activities halted the two days losing streak experienced in the market as gains by BUA Cement, Seplat Petroleum, Dangote Cement among others pushed the market on the green.

Specifically, BUA Cement gained 216 bps, SEPLAT 204 bps and Dangote Cement 122bps. Though, profit taking were recorded in UBA leading to a decline of -114bps, MTN Nigeria -94bps and Guaranty Trust Bank -31bps.

Activity level indicated by volume and value traded continued to trade in opposite directions as total volume diminished by 37.62 percet while value traded increased by 111.85 percent.

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SEPLAT, MTN Nigeria and Guaranty Trust Bank were the most traded stocks by value, accounting for 81.76 percent of total turnover. Market breadth for the day closed flat as 14 gainers and decliners emerged.

Sector performance remained bullish as four Index recorded gains. The Industrial Goods Index garnered 1.9 percent and Oil & Gas Index 1. 5 percent led the bulls, on the back of price appreciation in Dangote Cement 1.2 percent, BUA Cement 2.2 percent, SEPLAT 2.0 percent and Oando 4.3 percent.

Similarly, gains were recorded in the Consumer Goods 0.4 percent and Banking 0.1 percent Indices, due to buying interest in Unilever Nigeria 8.0 percent, Access Bank 2.5 percent and Sterling Bank 3.2 percent.

Conversely, price decline in WAPIC Insurance -7.9 percent drove the Insurance -1.8 percent Index down.

Investor sentiments strengthened as measured by market breadth as 14 stocks advanced against 14 decliners. CAP garnered 10.0 percent, Unilever 8.1 percent and Chams 6.5 percent to lead the gainers  chart while Linkage Assurance  (-8.3 percent ), WAPIC  Insurance -4.5 percent  and Honeywell  Flour  -7.7 percent ) led the losers chart

Reacting analysts at Afrinvest Research said: “We expect gains in the market to persist in the next trading session, on the back of renewed buying interest.”

Vanguard

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