Investors on equities market gain N167bn


By Kayode Tokede

The Nigerian Stock Exchange (NSE) equities market segment reopened trading on Tuesday after the holidays to mark Christmas and Boxing Day celebrations with the All-Share Index crossing 39,000 marks.

Specifically, the market capitalisation rose by N167 billion to close at N20.446 trillion compared with N20.279 trillion achieved on Thursday.

Consequently, NSE All-Share Index which opened at 38,800.01 basis points inched higher by 310.16 basis points  or 0.80 per cent to close at 39,110.17 basis points.

Sector performances were mixed today with the Industrial (+2.39 per cent) and Banking (+1.05 per cent) sectors closing positively, while the Oil & Gas (-0.06 per cent) and Consumer Goods (-0.05 per cent) sectors closed in the red.

The uptrend was driven by price appreciation in medium and large capitalised stocks amongst which are; BUA Cement, Zenith Bank, Access Bank, NPF Microfinance Bank and NEM Insurance.

A breakdown of the price movement chart shows that Jaiz Bank dominated the gainers’ chart in percentage terms with 10 per cent, to close at 66k per share.

NEM Insurance followed with 9.56 per cent to close at N1.49, while Lasaco Assurance rose by 8.82 per cent to close at 37k per share.

NPF Microfinance Bank improved by 8.39 per cent to close at N1.68, while Japaul Gold and Ventures appreciated by 8.33 per cent to close at 52k per share.

Conversely, NCR led the laggards’ chart in percentage terms, losing 9.68 per cent to close at N1.96 per share.

FTN Cocoa Processors trailed with 8.99 per cent to close at 81k, while Trans-Nationwide Express shed 8.86 per cent to close at 72k per share. Chams shed 8.70 per cent to close at 21k, while AXA Mansard Insurance lost 4.76 per cent to close at N1 per share.

Also, the total volume of shares traded rose by 85.4 per cent with an exchange of 722.57 million shares worth N4.38 billion in 5,042 deals.

This was in contrast with a total of 381.72 million shares valued at N7.97 billion exchanged in 2,925 deals on Thursday.

Transactions in the shares of AIICO Insurance topped the activity chart with 273.13 million shares valued at N326.09 million. Oando  followed with 81.45 million shares worth N323.33 million, while FBN Holdings traded 41.09 million shares valued at N294.21 million.

Access Bank traded 40.14 million shares worth N353.27 million, while Champion Breweries transacted 36.33 million shares worth N30.16 million.

According to analysts at InvestmentOne Research, “The equities market closed up today due to the gains recorded in the Industrial and Banking sectors.

“Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns amidst a low interest-rate environment.

“Nonetheless, we reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.”