NSE Index Up 0.13% On Equities Market Rebound
UMORU ABDULKADIR
Transactions on the Nigerian Stock Exchange (NSE) on Thursday closed on a positive note, as the All-Share index advanced by 0.13 per cent to close at 26,824.50 points in contrast to -0.35 per cent depreciation recorded on Wednesday.
Today’s gains impacted by medium to large stock lifted market capitalisation to jump to N12.947 trillion at the end of Thursday trading session while its Year-to-Date (YTD) returns currently stands at -14.65 per cent.
Consequently, the market breadth closed positive as CADBURY led 19 gainers against 13 Losers topped by Dangote Sugar, a much improved performance when compared with previous outlook.
Cadbury Nigeria led the gainers’ table with 90 kobo gain to close at N9.09, followed by GlaxoSmithKline, hitching up 55 kobo to close N6.25, UACN nicked 50 kobo to close at N7.5. While FBN Holdings appreciated by 30 kobo to close at N6.8, Oando gained 22 kobo to close at N3.72 per share, among others.
Dangote Sugar led the losers table with 70 kobo to close at N13.8 per share followed by C & I leasing which shed 65 kobo to close at N5.95 per share, Dangote Cement declined by 60 kobo to close at N143. While Jaiz Bank lost 6 kobo to close at N0.63, Livestock Feed depreciated by 4 kobo to close at N0.51 per share.
In terms of turnover recorded on the day with Law Union Insurance leading the most actively traded stocks having accounted for 151.7 million shares valued at N91.32 million in 11 deals. It was followed by United Bank for Africa after it sold 20.36 million shares worth N142.6 million in 240 deals. Access Bank exchanged 12.37 million shares valued at N111.67 million in 271 deals. Mutual Benefits Assurance had 11.09 million turnover worth N2.22 million in 13 deals while Zenith bank Plc traded in 10.4 million shares valued at N193.13 million in 271 deals.
Overall, market turnover closes positive as volume moved up by +60.02 per cent against -9.58 per cent recorded in the day before session.
Commenting on today’s bullish outlook, Johnson Chukwu, an analyst at Cowry Asset Limited, said the gains recorded today were due to late buy interest in the shares of Cadbury and Oando Plc considering their brand and attractiveness of their share prices. He said, we maintain that investors should take position with stocks of lower share price with high return on investment.”
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