Equities market rebounds, as NSE index up 0.27%

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Trading on the floor of the Nigerian Stock Exchange (NSE) rebounded yesterday as All Share Index appreciated by 0.27 per cent to close to 37,990.74 points, compared with the depreciation of 1.64 per cent recorded on Wednesday.

Year-to-date (YTD) gain advanced to 41.4 per cent as investors gained N36.0 billion.

The appreciation recorded in the share prices of Guaranty Trust Bank (GTB), FBN Holdings, Nigerian Breweries, Lafarge Africa and UBA were mainly responsible for the gain recorded in the Index.

The Market Capitalisation appreciated yesterday by 0.27 per cent to close at N13.52 trillion, compared with the depreciation of 1.64 per cent recorded in the previous trading day to close at N13.48 trillion

The three most actively traded stocks were; Trans National Corporation (100.55mn), FBN Holdings (45.71mn) and Fidelity Bank (42.24mn).

The yesterday’s positive performance the exchange said could also be attributed to buying interest observed across sectors, although Lafarge Cement WAPCO (+4.7 per cent), Nigerian Breweries (+0.9 per cent) and Nestle Nigeria (+0.7 per cent) were the major drivers.

However, activity level was mixed as volume traded declined 22.7 per cent to 322.3 million units while value traded rose 71.5 per cent to N3.6 billion.

Performance across sectors was bullish as all indices under coverage trended northwards. The Industrial Index led the gainers chart, rising 1.5 per cent consequent on price appreciation in Lafarge Cement WAPCO (+4.7 per cent).

The Oil & Gas index trailed, up 1.1 per cent on the back of upticks in Total Nigeria (+5 per cent) and Mobil Oil (+4.9 per cent).

Similarly, the consumer goods index gained 0.5 per cent on renewed buying interest in Nigerian Breweries (+0.9 per cent) and National Salt Company of Nigeria (+2.9 per cent) while GTB (+3.7 per cent) and Sterling Bank (+2.9 per cent) pulled the banking index 0.1 per cent higher. The insurance index closed trading session flattish.

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