By Peter Egwuatu
Investors in the nation’s equities market, Nigerian Stock Exchange, NSE regained N149 billion today (Thursday) after the two previous days’ trading that recorded negative sentiments.
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The gains in bellwethers such as Dangote Cement 2.9 percent, MTN Nigeria 2.1 percent and Guaranty Trust Bank 1.7 percent, pushed the NSE All-Share Index up 0.99 percent to 29,352.13 points.
Consequently, the Year to Date, YtD return improved to 9.4 percent while market capitalisation increased by N149.4 billion to N15.1trillion.
Activity level increased as volume and value traded rose 7.5 percent and 77.0 percent to 387.2 million units and N5.0 billion respectively. The most active stocks by volume were Access Bank (74.6million units), Zenith Bank (71.8million units) and WAPCO (40.7million units) while Zenith Bank (N1.6billion), Access Bank (N770.9million) and WAPCO (N629.9million) led by value.
Sector performance was impressive as only two indices lost. The Industrial Goods and Insurance Indices lost 1.5 percent and 1.2 percent respectively following sell-offs in BETA GLASS -1.5 percent, CUTIX -4.9 percent, MANSARD Insurance -0.9 percent and LASACO Assurance -3.7 percent.
Meanwhile, buying interest in Guaranty Trust Bank 1.7 percent , Zenith Bank 2.1 percent and MTN Nigeria 2.1 percent buoyed performance in Banking Index which increased by 2.2 percent and AFR-ICT Index by 1.2 percent.
Similarly, the Consumer Goods and Oil & Gas Indices advanced 1.0 Percent and 0.2 percent respectively following gains in Unilever 4.4 percent), Dangote Sugar 1.0 percent and OANDO 2.7 percent.
Investor sentiment as measured by market breadth show that 23 stocks advanced relative to 16 decliners.
The top gainers were Livestock Feeds which went up by 10.0 percent to close at N0.55, Forte Oil 8.4 percent to close at N20.60. WAPCO rose by 6.3 percent to close at N15.95 followed by Jaiz Bank which rose by 6.25 percent to close at N0.68 and First Bank Nigeria Holding went up by 5.71 percent to close at N7.40 while BOC GAS led losers declining by -10.0 percent to close at N4.95 , CAVERTON slipped by -10.0 percent to close at N2.62. Cornerstone Insurance declined by -6.9 percent to close at N0.54 followed by UACN declining by -6,54 percent to close at N10.00 and BUA Cement lost -5.26 percent to close at N36.00.
Reacting, analysts at Afrinvest Research said: “We anticipate positive performance in the market as investors position for gains.”