Equities Market Rebounds With 0.2% Gain
Lesser volume of transacted equities Tuesday on the floor of the Nigerian Stock Exchange (NSE), drove equities market reversal, as the NSE All Share index (ASI) gained 0.2per cent on the bank of gains posted by the oils sector.
Total volume and value fell by 29 per cent and 8 per cent respectively, compared to Monday, as investors exchanged over 330.10 million units of shares worth over N3.57billion exchanged in 4,561 deals.
Specifically, the All-Share Index advanced by 0.2 per cent to 21,741.16 points. Meanwhile, the Month-to-Date and Year-to-Date losses moderated to -17.1 per cent and -19.0 per cent, respectively.
STANBIC led the gainers on Tuesday with N2.25 or 9.43 per cent growth in share price , closing the day at N26.1 per share, CAP followed with N0.5 or 2.38 per cent growth, to close at N21.5 per share, while CUSTODIAN, closed at N5.9 per share, as the third best gainer, with N0.25 or 4.42 per cent growth.
ZENITHBANK appreciated by N0.25 or 2.34 per cent, to end the day at N10.95 per share, while SKYAVN closed the top five gainers chart on Tuesday at N2.51 per share, following growth in share price by N0.2 or 8.66 per share.
GUARANTY emerged as the most active stock Tuesday with turnover of 78,899,230million shares , worth N1,319,573,181.30 billion, followed by ZENITHBANK with 77,914,364 million shares worth N852,873,889.60 million, ACCESS as the third most active polled 36,034,795 million shares worth N198,351,672.50 million.
FBNH as the fourth most active stock, recorded 24,710,589 million shares, valued N96, 354,222.50 million, while UBA closed the top five most active stocks chart with 18,812,063 million shares, worth N84, 364,802.5 million.
CONOIL led the losers chart on Tuesday with N1.45 or 9.93 per cent decline on its share price, ending the day at N13.15 per share, followed by NASCON which depreciated by N8.5 or 9.57 per cent, closing trade at N8.5 per share, while UBN closed as the third highest loser, following N0.5 or 7.69 per cent dip, to close trade at N6 per share.
CADBURY closed lower at N5.15 per share, having declined by N0.5 or 8.85 per cent, while ETI closed the top five losers chart at N4.05 per share, following N0.4 or 8.99 per cent loss.
Sector performances were negative Tuesday as the NSE Banking index lost -0.33 per cent, Consumer Goods index by -0.24 per cent and Industrial index by -0.02 per cent, as all closed in the red. However, Oil & Gas advanced by +0.25 per cent to close in green.
In terms of activity levels, total volume and value fell by 29 per cent and 8 per cent respectively, compared to Monday, as investors exchanged over 330million units of shares worth over N3.57billion.
The equities market closed up today due to the gains recorded in Oil & Gas sector. We believe this may be a great period for investors with a medium to long term horizon to pick up some of the quality names at attractive price points.
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