NSE Index Gains 0.84% as Mood Remains Bullish

By Modupe Gbadeyanka

The mood at the Nigerian Stock Exchange (NSE) remained bullish on Monday as trading activities resumed.

This was buoyed by the positive corporate earnings released today, which excited investors, giving them the confidence to add more stocks to their portfolios.

At the close of business today, the local stock exchange recorded 0.84 percent growth, leaving the year-to-date returns at -3.39 percent.

The All-Share Index (ASI) appreciated today by 309.08 points to close at 36,946.05 points, while the market capitalisation increased by N112 billion to settle at N13.384 trillion.

Business Post reports that the market breadth finished positive at the close of market with 32 price gainers and 22 price losers.

Seplat, which released its half year results today, topped the gainers’ chart after adding N62.50k to its share value to close at N687.50k per share.

Flour Mills appreciated by N2.20k to finish at N29.40k per share, while Stanbic IBTC grew by N1.25k to close at N49.90k per share.

Forte Oil went up by N1.05k to end at N25.05k per share, while Nestle Nigeria improved by N1 to close at N1502 per share.

On the flip side, Total Nigeria emerged the highest price loser, going down by N16.80k to close at N183 per share.

Conoil depreciated by N2.70k to finish at N24.30k per share, while CCNN went down by N1.35k to end at N30 per share.

Transcorp Hotels lost 70 kobo today to settle at N6.75k per share, while Red Star Express declined by 60 kobo to finish at N5.60k per share.

The volume of shares transacted on the floor of the NSE today by investors increased by 2.58 percent, while the value depreciated by 12.60 percent.

The volume of equities today were 319.4 million against the 311.4 million units sold last Friday, while the total value of stocks exchanged today was N3.1 billion versus N3.5 billion traded in the last session.

At the close of transactions, the Financial Services sector led the activity chart with 157.6 million shares sold for N1.3 billion, while the Services sector followed with 102.6 million shares sold for N201 million.

Medview Airline emerged the most traded stock at the market on Monday, selling 100 million units worth N193 million.

It was followed by Sterling Bank, which exchanged 34 million shares valued at N47.2 million, and United Bank for Africa, which transacted 32.5 million equities worth N316.1 million.

Transcorp sold 29.3 million shares worth N37.6 million, while FBN Holdings exchanged 12.5 million shares for N124.9 million.