By Peter Egwuatu

The equities market on the Nigerian Stock Exchange, NSE recorded positive performance today (Monday) on the back of gains recorded by some blue chip companies.

NSE moves 462.31m shares worth N7.92bn in negative trading

Specifically, Nestle Nigeria garnered (+2.8 percent), SEPLAT (+8.8 percent) and Dangote Cement (+1.1 percent). As a result, the NSE All-Share Index (ASI) rose 0.7 percent or 73 bases points, bps to 26,609.34 points while Year to Date, YtD return improved to -15.3 percent.

Similarly, market capitalisation increased by N93.1billion to N12.8trillion. Activity level also improved as volume and value traded advanced 72.0 percent and 136.4 percent to 382.8million units and N7.2billion respectively.

The top traded stocks by volume were Transcorp (138.9million units), Guaranty Trust Bank (48.4million units) and Access Bank (45.0 million units) while Dangote Cement (N1.6billion), MTN Nigeria (N1.5billion) and Guaranty Trust Bank (N1.4billion) were the top traded stocks by value.

Sector performance was bullish as four of the six Indices captured  closed in the green. The Oil & Gas index gained the most, up 5.1 percent, due to price appreciation in SEPLAT (+8.8 percent ) and OANDO (+1.4 percent).

Similarly, the Consumer Goods, Insurance and Industrial Goods Indices trailed, gaining 2.1 percent, 1.0 percent and 0.4 percent respectively, driven by buying interest in Nestle  which gained (+2.8 percent), NEM  Insurance (+10.0 percent ) and Dangote Cement (+1.1 percent).

On the flip side, the Banking and AFR-ICT Indices lost 0.7 percent and 0.5 bps respectively on the back of declines in UBN (-9.6percent), Access Bank (-2.0 percent ) and CHAMS (-0.02 percent).

Investor sentiment as measured by market breadth showed that  24 stocks gained while 12 declined. The top performing stocks were Union Diagnostic (+10.0 percent), NEM Insurance (+10.0 percent) and Eterna (+10.0 percent) while C & I LEASING (-10.0 percent), Learn Africa (-9.6 percent) and UBN (-9.6 percent) declined the most.

NSE: market capitalisation sustains upward posture, up N65bn

Reacting analysts at Afrinvest Research said: “Despite the positive performance recorded in today’s trading session, we believe bearish sentiment will resurface as investors’ appetite towards the local bourse remains weak.”

Vanguard