Capital market rebounds as ASI gains ground

February 20, 2019
531 Views

Nigeria’s capital market witnessed a rebound on Tuesday with investors gaining N80 billion at the end of trading activities on the floor of the Nigerian Stock Exchange (NSE).

The market capitalisation of equities listed on the floor of the Exchange increased from N12.004tn on Monday to N12.084tn on Tuesday, after losing N160 billion on Monday.

The All Share Index gained 0.67 per cent to close at 32,406.17 basis points from the 32,190.07bps recorded on Monday, while activity level also strengthened as 361.821 million shares valued at N4.160bn exchanged hands in 4,623 deals, representing a 55.4 per cent and 23.7 per cent increase in volume and value traded, respectively.

Transnational Corporation of Nigeria Plc (120.2 million units), Zenith Bank (37.3 million units) and FBN Holdings Plc (31.2 million units) topped the most traded stocks by volume while Dangote Cement Plc (N951.6m), Zenith Bank (N925.5m) and GTB (N778m) led the top traded stocks by value.

Performance across sectors was largely bullish as four of five indices closed on a positive note.

The banking sector, which was the biggest loser on Monday, became the biggest gainer on Tuesday as it appreciated by three per cent, while the oil and gas and consumer goods sectors advanced by 0.7 per cent and 0.3 per cent, respectively.

The insurance sector was the fourth gainer, advancing by 0.2 per cent following investor interest in Custodian Investment Plc and Cornerstone Insurance Plc.

However, the industrial goods index shed 0.2 per cent on account of major sell-offs in Dangote Cement and First Aluminium Nigeria Plc.

Investor sentiment, as measured by market breadth strengthened to 1.1x from 0.3x recorded on Monday as 16 stocks advanced against 14 decliners.

The top five gainers were Japaul Oil & Maritime Services Plc, Sovereign Trust Insurance Plc, Associated Bus Company Plc, Custodian Investment and Academy Press Plc, which saw respective gains of 9.52 per cent, 9.52 per cent, 9.09 per cent, 8.26 per cent and 8.11 per cent.

On the flip side, First Aluminium, Transnational Corporation of Nigeria, Wema Bank Plc, Unity Bank Plc and Union Diagnostic and Clinical Services Plc, whose respective share prices shed 10 per cent, 9.74 per cent, 9.68 per cent, 9.65 per cent and 6.90 per cent, topped the losers table.

You may be interested

2026 WCQ: Bafana Bafana Can Beat Super Eagles In Uyo — Williams
Sports
Sports

2026 WCQ: Bafana Bafana Can Beat Super Eagles In Uyo — Williams

Webby - May 15, 2024

South Africa goalkeeper Rowen Williams is optimistic Bafana Bafana can beat Nigeria away in their 2026 FIFA World Cup qualifier.Hugo…

2026 WCQ: South Africa Coach Announces Preliminary Squad For Qualifiers Against Super Eagles
Sports
Sports

2026 WCQ: South Africa Coach Announces Preliminary Squad For Qualifiers Against Super Eagles

Webby - May 15, 2024

Bafana Bafana of South Africa head coach Hugo Broos has named a 36-member preliminary squad for next month’s 2026 FIFA…

U-17 WWCQ: Olowookere Optimistic Flamingos Will Beat Burkina Faso To Final Round Ticket
Sports
Sports

U-17 WWCQ: Olowookere Optimistic Flamingos Will Beat Burkina Faso To Final Round Ticket

Webby - May 14, 2024

Nigeria’s U17 girls, Flamingos, are back in the country following their FIFA U17 Women’s World Cup qualifying match against Burkina…

Leave a Comment

Your email address will not be published.