Equities market year-to-date loss closes’ at -2.6%

By Ihesiulo Grace 4 May 2017 1 No comment

Equities trading on the Nigerian Stock Exchange extended a gaining streak to the fifth consecutive session, thereby moderating year to date losses to -2.6 percent.

Lead market indicators recorded an increase of 0.19 percent each. The All Share Index which opened Thursday’s trading session at 26,116.79 points closed 50 points higher to close at 26,166.80 points.

Similarly the market capitalisation settled at N9.045 trillion after gaining N18 billion in the course of the day’s trading.

Market activity however showed a decline as investors in 5,106 deals transacted a total volume of 255.6 million shares worth N2.5 billion, compared to a total volume of 264.5 million shares valued at N2.9 billion transacted in 3,958 deals previously.

Zenith Bank emerged the most traded equity for the day, accounting for 42 million shares worth N661.6 million.
FBN Holdings came second with a total of 41.2 million shares valued at N145.7 million and UBA traded 24.9 million shares worth N159.3 million.

Guaranty sold 16.3 million shares amounting to N435.8 million, while Air Service transacted 15.2 million shares valued at N65.1 million

Market breadth closed positive as the price movement chart showed 26 gainers were paired against 16 losers.

International Breweries recorded the highest gain of 9.3 percent to close at N19.50, Fidson followed with a growth of 9.09 percent to close at N1.44 per share and Nigerian Aviation Handling Company (NAHCO) appreciated 4.80 percent to close at N2.62 per share.

Continental Reinsurance was next with a gain of 4.67 percent to close at N1.12, while UAC-Prop gained 4.57 percent to close at N1.83 per share.
Conversely, Stanbic recorded the highest loss for the day, dropping by 9.62 percent to close at N24.81 per share.

Axa Mansard trailed with a loss of 7.5 percent to close at N1.48, while Unity Bank was down by 7.41 percent to close at 50 kobo per share.

Jaiz Bank and Honeywell Flour Mills also lost 4.55 percent and 4.27 percent each, to close at N1.05 and N1.12 per share respectively.