Index Rises As Investors Stake N4.8bn On Equities

The Nigerian Stock Exchange All-Share Index rose on Monday after investors exchanged 229.724 million shares valued at N4.850bn in 3,482 deals.
Specifically, the NSE ASI appreciated by 97.7 basis points or 0.3 per cent from 33,621.75 basis points to close at 33,719.45 basis points.
Monday’s performance means that the index has appreciated in the last three straight sessions, following a string of negative performances.
The market capitalisation of the listed equities also rose by 0.3 per cent or N34bn to close at N11.510tn, as against the 0.19 per cent gain it recorded on Friday to close at N11.467tn.
Apart from the NSE ASI and market capitalisation, four NSE indices closed higher on Monday, while three others closed lower with the NSE Alternative Securities Market Index remaining unchanged at 1,211.52 basis points.
The NSE Oil and Gas Index outperformed the indices as it rose by 1.01 per cent to close at 367.10 basis points.
The NSE Consumer Goods Index was up by 0.35 per cent to close at 856.54 basis points, while the NSE 30 Index and the NSE Industrial Index gained 0.27 per cent and 0.15 per cent to close at 1,539.99 basis points and 2,230.96 basis points, respectively.
Of the three indices that declined on Monday, the NSE Lotus Islamic Index was the worst hit. It fell by 0.32 per cent from 2,224.22 basis points to 2,216.96 basis points.
The NSE Insurance Index depreciated by 0.23 per cent from 144.85 basis points to 144.51 basis points, while the NSE Banking Index was down by 0.17 per cent from 372.67 basis points to 372.04 basis points.
The banking sub-sector led the activity chart, accounting for 65.88 per cent of the total turnover volume traded.
In the sub-sector, 151.350 million shares worth N1.354bn were traded in 1,253 deals with Access Bank Plc, Zenith Bank Plc and Guaranty Trust Bank Plc driving volume.
Twenty-four stocks recorded gains, while 21 stocks made losses on Monday.
Guinness Nigeria Plc was the top gainer. It rose by 10.12 per cent or N17 to close at N185 per share; followed by Neimeth International Pharmaceuticals Plc, which gained 9.24 per cent or 11 kobo to close at N1.30 per share.
UAC Property Development Company Plc rose by five per cent or 50 kobo to close at N10.50 per share, while Champion Breweries Plc appreciated by 4.98 per cent or 32 kobo to close N6.74 per share.
The losers were led by PZ Cussons Nigeria Plc, which fell by 8.57 per cent or N3 to close at N32 per share.
Berger Paints Nigeria Plc declined by five per cent or 53 kobo to close at N10.08 per share, while International Breweries Plc and Okomu Oil Plc dipped by five per cent and 4.99 per cent to close at N19.01 and N33.16 per share, respectively.
Analysts had said activities were likely to pick up in the capital market this week after two negative weeks.
This, according to them, is due to expectations that the new government will settle down and commence key appointments, which will provide some clarity about the direction of the government.
Analysts at Meristem Securities Limited had in their investment guide for the week said, “We opine that the recent lull in market activity may not be unrelated to the dearth of market moving information in the nation’s economic, political and financial space.
“We however anticipate a reversal in market mood in the coming weeks, as the new government settles into office and unveils its blueprints for economic growth and stability.”

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