NSE Index up by 0.31% amidst profit-taking in MTN, others


By Kayode Tokede

Having closed last week positive, trading on the floor of the Nigerian equity market resumed Monday in the green territory as the All-Share Index (ASI) advanced by 0.31 per cent to open the week at 29,710.56 basis points amidst profit-taking in medium and high cap stocks.

Specifically, the All-Share Index inched up 92.04 basis points or 0.31 per cent to close at 29,710.56 points while the market capitalization appreciated by N47.41 billion or 0.31 per cent to close at N15.303 trillion as against N15.256 achieved on Friday.

Monday’s market upturn was buoyed by buying interest Total Nigeria, MTN Nigeria, BUA Cement, Cadbury Plc and National Salt Company of Nigeria among others.

Consequently, the market breadth closed positive as Total Nigeria led 22 gainers against 12 losers topped by Nestle Plc.

Accordingly, the top five gainers for the day in equity value terms were Total Nigeria which added N10 or 9.35 per cent to close at N117 per share, followed by MTN Nigeria with 170 kobo gain to close at N128.3 per share. Bua Cement appreciated by 100 kobo or 2.78 per cent to finish at N37 per share, occupying third position.

While Cadbury grew by 85 kobo or 8.50 per cent to close Monday’s trading at close at N10.85 per share, National Salt Company of Nigeria nicked 75 kobo  or 4.67 gain to close at N15.7 per share.

Nestle Plc led 12 worst performing stocks Monday, when it dipped N89.9 or 6.12 per cent to settle at N1, 380 per share, Unilever Nigeria followed with 50 kobo or 2.70 per cent depreciation to close at N18 per share. NCR Plc dropped 40 kobo or 9.88 per cent to finish at N3.65 per share.

While Oando Plc posted 18 kobo loss to close at N3.52 per share, International Breweries went down by 10 kobo to close at N9 per share, among others.

The activity chart at the close of trading today shows that Access Bank topped the most actively traded stocks with a turnover of 37.8 million shares valued at N408.6 million traded across 493 deals. It was followed by Zenith Bank which transacted 34.9 million shares estimated at N790.4 million achieved in 594 deals. Guaranty Trust Bank exchanged 33.6 million shares worth N1.15 billion traded in 345 deals to occupy the third place.

While FBN Holdings Plc sold 22.8 million shares valued at N171.9 million across 353 deals, United Bank for Africa sold 18.1 million shares worth N160.7 million exchanged in 355 deals on Monday.

Overall, a total of 266.9 million shares worth N4.18 billion were transacted in 5,052 deals at the time of the closing the equities market on Monday.


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