Investors’ Sentiment Pushes Equity Market Up 1.3%

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Trading on the Floor of the Nigerian Stock Exchange (NSE) yesterday sustained its positive momentum when it extended gains to the fourth consecutive session.

The All Share Index rose by 1.3 per cent to close at 40,362.97 points while year-to-date (YTD) return expanded to 5.5 per cent.

In turn, investors gained N182.7 billion as market capitalisation settled at N14.4 trillion. The day’s performance was buoyed by a broad-based rally across sectors, although Dangote Cement (+1.4%), Zenith Bank (+4.9%) and Guaranty Trust Bank (+2.2%) were the main drivers.

Seplat Petroleum Development Company led the gainers table when it appreciated by N10.00 to close at N660.00 per share, followed by building materials major player, Dangote Cement which grabbed 324 kobo to close at N237.50 per share, breweries’ major, Guinness Nigerian nicked 200 kobo to close at N102.00 per share, Conoil added 162 kobo to close at N34.03 per share, while the share price of Presco appreciated by 150 kobo to close at N68.00 per share, among others.

Nestle Nigeria sat atop the decliners’ table when it slipped by N50.00 to close at N1, 450.00 per share, followed by GlaxoSmithKline Consumer which went down by 30 kobo to close at N21.80 per cent, Nigerian Aviation Handling Company lost 21 kobo to close at N4.29 per share, Union Bank deprecated by 20 kobo to close at N.50 per share, while UACN Property Development Company decreased by 15 kobo to close at N3.03 per share, among others.

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