Nigerian Stock Exchange trading floor

Equities Market Gains N54bn On Banking, Consumer Goods Stock

By Nse Anthony-Uko

(Sundiata Finance) – The Nigerian equities market, opened the week on a positive note with a gain of N54 billion on Monday, owing to sustained buying interest in blue-chip Banking and Consumer Goods stocks.

In summary, the All Share Index (ASI) gained 155.43 absolute points, representing a growth of 0.48 per cent to close at 32,614.60 points.

Similarly, the market capitalisation gained N54 billion,  to close at N11.241 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Flourmill, Zenith Bank, ETI, Access Bank and UBA. Analysts at United Capital said, “Looking ahead, we expect sentiments to be dictated by expectations around half year, 2017 earning scorecards.”

Market breadth was positive, with 26 gainers versus 15 losers. Flourmill recorded the highest price gain of 9.75 per cent, to close at N25, while Red Star Express and CI Leasing followed with a gain of five per cent, each to close at N5.25 and 63 kobo per share, respectively. UBA appreciated  by 4.94 per cent to close at N8.92, while Access Bank went up by 4.93 per cent to close at N9.58 per share.

On the other hand, Union Bank  led the losers’ chart by 8.82 per cent, to close at N5.58 per share, while UPL and Skye Bank followed with a decline of five per cent, each to close at N3.23 and 57 kobo per share, respectively. AG Leventis depreciated by 4.88 per cent to close at 57 kobo and Vitafoam declined by 4.81 per cent to close at N2.57 per share.

However, the total volume traded decreased by 14.91 per cent to 180.72 million shares, worth N2.03 billion, and traded in 3,710 deals. Transactions in the shares of Guaranty Trust Bank topped the activity chart with 26.45 million shares valued at N908.97 million. FCMB Groups followed with 18.72 million shares worth N23.16 million, while Zenith Bank traded 15.66 million shares valued at N330.17 million.

Diamond Bank traded 13.87 million shares valued at N17.23 million, while FBN Holdings sold 11.53 million shares worth N71.26 million.

 

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