GBOLABO AFUWAPE Rebound
The Nigerian equities market bounced back on Thursday, gaining N41 billion naira and pushed up the market capitalization to N11.763 trillion representing 0.35 percent.
The all share index gained 120.20 points to close at 32,228.50 basis points representing a growth of 0.37 percent against 32,108.30 points recorded, Wednesday.
MAIN MARKET INDEXES
The Nigerian bourse closed Thursday’s trading on sideway with total deals declining by 7.66 percent to amount to 2,639 trades struck in the day. Aggregate volume declined by 55.54 percent to amount to 200.132 million equities recorded in the day. Aggregate value also declined by 71.54 percent to amount to N2.673 billion recorded in the day.
ALL SHARE INDEX MOVEMENT
It could be said that the drop recorded in the day was not to be a true reflection of the day’s trading session as market players did a lot more of profit taking in various stocks which accounted for the 332.221 million equities valued at N7.010 billion that rallied in 916 deals in the day. Conversely, market players took profit on 17 stocks in 947 deals with a total of 89.106 million equities valued at N1.756 billion exchanging hands.
The 9.23 percent and 8.16 percent growth in the prices of Unity bank and Union Bank of Nigeria led other commercial banks to inspire the banking sector’s 1.02 percent growth recorded in the day. The sector which grew by 0.19 percent mid-week, further advanced on Thursday, gaining 4.25 points to amount to 420.08 points recorded in the day.
Insurance sector closed in the green, recording a growth of 0.7 percent to amount to 118.26 recorded in the day, thanks to the growth in the prices of Nem Insurance which grew by 4.84 percent, Wapic insurance which grew by 2.50 percent and Aiico Insurance which grew by 1.56 percent.
Consumer Goods sector also grew by 0.39 percent in the day to close at 725.52 points against 722.73 it recorded on Wednesday.
SECTORAL INDEXES SNAPSHOT
NSE 30 grew by 0.45 percent to close at 1.449.01 points in the day while NSE 50 grew by 0.68 percent to close at 1.683.35 points.
On the flipside, thanks to the 7.19 percent decline in the price of Mobil Nigeria (11 Plc) in the day, the oil and gas sector recorded the most decline in the day. The sector lost 2.49 points to bring about the 0.85 percent decline recorded in the day.
The 9.88 percent decline in the price of Cement Company of Northern Nigeria (CCNN) largely inspired the 0.31 percent decline recorded in the sector to see its index close Thursday’s trading at 1,360.43 points.
TEN BEST TRADED STOCKS
Banking stocks dominated the activity charts as the most traded stocks in the day were those of Access bank with 81.257 million equities, First bank of Nigeria Holdings with 31.713 million equities and First City Monument bank with 10.577 million equities.
The stocks of First bank of Nigeria Holdings (FBNH) with 240, Zenith bank with160 and Flour mills with 154 deals recorded the most trades in the day. While those of Nestle Nigeria with N1.243 billion, Access bank with N0.650 billion and First bank of Nigeria Holdings with N0.235 billion, recorded the most value turnover in the day.
GAINERS
The growth recorded at the close of the day’s trading started from the early hours of the trading session as the bourse which opened the day with 32,108.30 points, vacillated between 32,103.41 points and 32,246.75 points in the day to peg the year-to-date (YtD) return at 15.73 percent.
LOSERS
Market breadth in the day was positive with 19 stocks that grew in prices led by Unity bank, Union bank and First aluminium outnumbered the 15 stocks which declined in prices led by Cement Company of Northern Nigeria, Pharmdeko and Flour Mill Plc.
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