Equities market opens week in green, up 0.08%


Trading on the floor of the Nigerian Stock Exchange (NSE) closed northwards yesterday when the All Share Index (ASI) closed at 37,974.58 points, appreciating by 0.08 per cent.

This marked the 4th consecutive day of a positive close. As a result, year-to-date (YTD) return expanded to 41.3 per cent as market cap increased by N10.8 billion to settle at N13.2 trillion.

The day’s positive performance was buoyed by buying interest in consumer goods bellwethers – Nestle Nigeria (+1.2%) and Nigerian Breweries (+0.9%) – and FBN Holdings (+2.5%). However, activity level was mixed as volume traded marginally inched 1.0 per cent higher to 500.2 million units, while value traded declined 11.4 per cent to N6.4 billion.

Sector performance was mixed with three indices trending northwards and the other 2 indices closing in the red. The Consumer Good Index appreciated the most, up 0.4 per cent, owing to gains in Nestle Nigeria (+1.2%) and Nigerian Breweries (+0.9%).

Similarly, the Insurance and industrial goods Indices followed, rising 0.2 per cent and 0.1 per cent consequent on buying interest in Linkage Assurance (+4.8%), AIICO Insurance (+1.8%) and Dangote Cement (+0.3%).

On the flip side, the losers were the banking and oil & gas indices, down 0.6 per cent and 0.5 per cent respectively.


Please enter your comment!
Please enter your name here