Equities market extend rallies to 4th day, adds N74b
Neimeth, Vitafoam lead gainers, as UBN, Presco lose
Nigerian equities continued on the uptrend for the fourth consecutive trading session on Tuesday, with investors worth improving further by N74 billion.
Aggregate market value of all quoted equities at the NSE rose from its opening value of N11.241 trillion to close at N11.314 tr, representing a gain of N74 billion.
The All Share Index (ASI) the common value-based index that tracks share prices at the Exchange rose by 0.65 per cent to close at 32,827.98 points as against its opening index of 32,614.60 points. The day’s performance improved average year-to-date return to 21.87 per cent.
All sectoral indices also closed in the green, reflecting the widespread positive sentiments across the sectors. The NSE Industrial Goods Index rose by 0.32 per cent.
The NSE Consumer Goods Index appreciated by 0.22 per cent. The NSE Banking Index rose by 2.02 per cent.
The NSE Oil & Gas Index appreciated by 0.36 per cent, while the NSE Insurance Index inched up by 0.56 per cent.
There were 24 gainers against 20 losers. Neimeth recorded the highest gain of 9.38 per cent to close at 70 kobo, Vitafoam trailed with a gain of 5.45 percent to close at N2.71. Okomu Oil added 5 per cent and closed at N59.48 per share, Goldbrew increased 4.94 per cent to close at 85 kobo while Oando improved 4.35 per cent and closed at N8.40.
On the other hand, UBN recorded the highest loss of 6.27per cent to close at N5.23. Presco followed, with a drop of 4.99 per cent to close at N64.54. Cadbury lost 4.92 per cent to close at N11.40 per share, Learn Africa declined by 4.60 per cent to close at 83 kobo while Jaiz Bank depreciated 4.48 per cent to close at 64 kobo.
Analysts at Afrinvest Securities had predicted positive performance in the upcoming sessions, to be driven by earnings fundamentals, as investors will be looking out for half year corporate earnings, due to be released in July to August, projecting sustained uptrend in coming sessions.
Total turnover improved by 20 per cent to 218.8 million shares valued at N2.105b in 4,991 deals. UBA was the most active stock with 35.3million shares valued at N316.9m. Niger Insurance followed with 20 million shares worth 1o million, while Zenith Bank came in third place with 18.3 million shares at N401.3 m. Diamond Bank exchanged 14.6m shares at N18.1m, while FCMB traded 12.2 million shares worth N15.0m.
