Positive Investor Sentiment Pushes NSE Index Higher by 0.71%

By Dipo Olowookere

The All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) improved by 0.71 per cent or 277.17 points on Monday following renewed buying interests in some mid and high-cap equities.

The NSE index, which previously ended at 39,216.20 points, closed yesterday’s trading session at 39,493.37 points.

Business Post reports that the gains reported by 28 stocks on Monday, higher than the 12 declining shares, increased the market capitalisation of the exchange by N145 billion to N20.663 trillion from N20.518 trillion.

During the session, investors traded 522.2 million stocks worth N10.7 billion in 4,566 deals in contrast to the 250.9 million equities worth N2.8 billion exchanged in 3,746 deals last Friday.

This signified that the number of stocks transacted by investors rose by 108.10 per cent, the value increased by 281.75 per cent and the number of deals rose by 21.89 per cent.

GTBank was the darling of market participants at the session as it transacted 230.4 million units of its shares valued at N7.4 billion.

Union Bank traded 79.2 million equities worth N419.8 million, Wema Bank exchanged 51.9 million units for N31.7 million, Transcorp sold 18.7 million shares valued at N15.0 million, while Courtville traded 16.9 million stocks worth N3.7 million.

According to data from the NSE, the banking, insurance and consumer goods sectors appreciated yesterday by 2.06 per cent, 0.56 per cent and 0.19 per cent respectively, while the energy and industrial goods counters depreciated by 0.50 per cent and 0.07 per cent respectively.

On top of the gainers’ list on Monday was Courtville as a result of the 10.00 per cent rise in its equity value to 22 kobo.

Custodian Investment also rose by 10.00 per cent to N6.60, Linkage Assurance gained 9.80 per cent to close at 56 kobo, Caverton improved by 9.52 per cent to N2.07, while Jaiz Bank appreciated by 8.47 per cent to 64 kobo.

On the losers’ chart, Cornerstone Insurance was on top after its price went down by 9.84 per cent to 55 kobo and was trailed by Oando, which lost 6.06 per cent to end at N3.10.

Honeywell Flour depreciated by 4.84 per cent to N1.18, PZ Cussons declined by 3.00 per cent to N4.85, while FCMB went down by 2.68 per cent to N2.90.