Gains in consumer goods lift up stock market by 0.75%


The nation’s equities market took a break at the close of trading today to reverse two days of consecutive losses as the Nigerian Stock Exchange All-Share Index (NSE ASI)appreciated by 0.75per cent.

Prices appreciation in Nigerian Breweries that gained 3.8 per cent to N116.31; Guinness rose by 1.3per cent from N123.00 N124.60, and PZ added 3.6 per cent to N27.46 after the closing of the market on Thursday.

The NSE ASI closed on Thursday at 27,205.95 basis points from 27,004.5 basis points to position Year-to-Date loss at 21.50 per cent.

In the same vein, market capitalization gained N69.27 billion to close at N9.35 trillion from N9.28 trillion, while market activity as measured by value and volume closed N1.47 billion and 179.06 million respectively.

At the close of trading on Thursday, most of the NSE indices appreciated expect for the NSE Insurance and NSE Industrial Goods Index that closed negative.

The NSE Insurance sector index dropped by 1.36per cent from 140.92 basis points to 139 basis points, on the heels of losses recorded in Mansard Insurance that dropped 4.7 per cent to N2.61, leading the losers list at the close of trading on Thursday.
Followed by the NSE Industrial goods index as downtrend persist in Dangote Cement that lost 1.35 per cent from N162.19 to N160.00 to close the index at 0.69 per cent.

Conversely, the NSE Banking sector index led the gainers list as price uptrend in Zenith Bank gained 8.9 per cent to N15.25 and Stanbic IBTC rose by 4.9 per cent to N16.85, positioning the index higher at 2.31 per cent from 266.28 basis points to  272.42 basis points.

The NSE Consumer Goods index closed positive to appreciate 1.96per cent from 683.71 basis points to 697.10 basis points.
At the close of trading market breadth as measured by the ratio of advancers to close stronger at 2.3x as 25 stocks advanced and 11 stocks declined for the day.

The top gainers for Thursday were Zenith bank rose by 8.93 per cent from  N14.00 to N15.25.

Eterna gained 8.2per cent to N1.72 from N1.59 while Cadbury also gained 4.98 per cent from N18.68 to N19.61.
Other gainers include Africa prudential that moved from N2.22 to N2.33 while Stanbic IBTC Holdings rose by 4.9 per cent from N16.07 to N16.85.

Top three losers include Fidson Healthcare that dropped by 4.8 per cent from N2.69 to N2.56; Mansard Insurance dropped by 4.7 per cent to N2.61 from N2.74 while Cutix declined by 4.7per cent from N1.72  to N1.64

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