Oil & Gas Lift Equities Market To N26.4bn Gain
ISMAIL MUSA
The Nigerian equities market closed positive Thursday, as the equities market capitalisation rose by N26.4 billion, riding on the back of the Oil and Gas sector which has provided the push to halt the eight days’ dip
Market capitalisation closed the day higher at N14, 497,295 trillion, having opened at N14,470,886 trillion. The NSE-ASI rose 0.17 per cent to close at 28,140.41pts. Likewise, market breadth index was positive with 20 gainers against 15 losers.
The gains recorded in the equities market capitalisation was also driven by growth recorded in the Oil & Gas sector, even as investors continue to take positions in quality names with a medium to long time investment horizon as prices to remain attractive at the current level.
Guaranty Trust Bank (GTB) led the gainers on Thursday with N0.9 or 3.09 per cent growth on its share price, ending the day at N30 per share. ZENITHBANK followed with N0.8 or 4.17 per cent growth, to end the day at N20 per share, while ACCESS BANK, as the third-highest gainer for the day, appreciated by N0.4 or 4.28 per cent, to close at N9.75 per share.
UACN, the fourth best gainers recorded N0.35 or 4.35 per cent, to end the day at N8.4 per share, while, ETI closed the top five gainers chart with N0.3 or 4.23 per cent, ending the day at N7.4 per share.
Performances were mixed Thursday across the various sectors as, the NSE Banking Index led the sectoral performance with growth by 3.32 per cent, propelled by gains in WEMABANK by +7.58 per cent, FCMB by +5.41 per cent, FIDELITY by +5.34 per cent, ACCESS by +4.28 per cent and ETI by +4.23 per cent.
NSE Oil & Gas Index gained 0.07 per cent, due to the buy interest in OANDO which posted 0.56 per cent growth. NSE Consumer Goods Index, however, dropped by 0.12 per cent, as a result of the declines in NASCON by -3.70 per cent, PZ by -1.96 per cent and INTBREW by -1.14 per cent. The NSE Industrial Index also depreciated by 1.87 per cent, due to the loss in BUACEMENT which dipped by -3.31 per cent.
Leading the decliners on Thursday, MTN Nigeria declined by N1.4 or 1.17 per cent, closing the day at N118.2 per share, followed by BUACEMENT which dipped by N1.2 or 3.31 per cent, closing at N35 per share, while CILEASING, as the third-worst loser declined by N0.65 or 9.77 per cent, to close at N6 per share.
NASCON as the fourth highest loser depreciated by N0.5 or 3.70 per cent, closing trade at N13 per share, while SKYAVN closed the top five losers chart at N3.74 per share, the following a decline by N0.41 or 9.88 per cent.
FBNH on Thursday emerged the most active stock with total turnover of 57,284,508 million shares valued N345, 559,540.65 million transacted by investors. FCMB followed with 43,230,291 million shares worth N84, 168,378.91 million, while ZENITHBANK, as the third most active on Thursday, recorded 34,293,190 million shares worth N705, 536,244.55 million. Zenith reigned as the most active stock for three successive sessions Monday to midweek.
UBA placed fourth on the activity chart with 24,083,945 million shares, valued N192, 997,206.35 million, while NB closed the five activity group Thursday with 22,726,652 million shares valued N1,170,508,410.0 billion.
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