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NSE Index Loses 0.01% as Market Cap Gains N50b

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) slightly went down on Thursday by 0.01 percent with the year-to-date return finishing at 6.56 percent.

Most sectors closed in the red territory with the oil and gas shedding 0.21 percent, banking sector declining by 0.32 percent, while the NSE30 lost 0.06 percent.

However, the NSE rose by 0.09 percent, while the consumer goods sector appreciated by 0.78 percent.

Business Post reports that the All-Share Index (ASI) depreciated by 2.9 points 40,752.83 points, while the market capitalisation increased by N49.5 billion to close at N14.771 trillion.

However, the market breadth ended negative today with 14 price gainers and 26 price losers.

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Okomu Oil emerged the biggest price gainer, appreciating by N3.65k to settle at N77.15k per share, and was followed by Nigerian Breweries, which increased by N2.20k to close at N127 per share.

Unilever Nigeria grew by N1.90k to end at N54.90k per share, Flour Mills increased by N1.10k to finish at N35.20k per share, and Oando rose by 45k to settle at N9.15k per share.

At the other side, Mobil oil Nigeria topped the laggards’ chart after shedding N2 to settle at N170 per share.

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NASCON decreased by 55k to close at N20.25k per share, while FBN Holdings depreciated by 45k to finish at N11.75k per share.

Lafarge lost 40k today to close at N42 per share, while Dangote Flour decreased by 20k to settle at N14 per share.

It was observed that the volume and value of transactions on the floor of the NSE on Thursday improved.

A total of 378.2 million equities exchanged hands today in 4,780 deals worth N6.3 billion compared with the 351 million units sold yesterday in 5,020 deals valued at N4.6 billion.

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At the close of business on Thursday, GTBank emerged the most active stock, selling 63.5 million shares valued at N2.8 billion.

It was followed by Diamond Bank, which traded 60 million equities worth N116.8 million, and FBN Holdings, which transacted 42.8 million units for N515.1 million.

C&I Leasing sold 27.8 million shares at the market on Thursday worth N35.3 million, while Transcorp exchanged 20.4 million equities valued at N35 million.

Business Post expects the stock market to close tomorrow in the positive region as more firms post their Q1 2018 earnings to buoy more buying interests.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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