Market value closes 0.33% higher

*Buoyed by banking/ consumer goods stocks

Equities trading on the floor of the Nigerian Stock Exchange (NSE) reversed the negative trend on Tuesday, as market value closed upbeat at 0.33 per cent growth, propelled by gains in banking / consumer goods.

Market capitalization closed higher at N12.37 trillion, from N12.53trn, which opened trading Tuesday, while the NSE’s All- Share Index (ASI) also closed higher at 36,531.62 points from 36, 411.73, which opened trade for the day.

Meanwhile, irrespective of the reversal in performance, analysts maintained that investor sentiment remained fairly week, bullish trend may be short lived.
The price movement tab for the day showed that 22 companies recorded equity price appreciation, while 14 others posted decline.

Nascon led the gainers table with 10.23 per cent or N1.33 gain, closing at N14.33 per share, followed by Caverton with N0.05 or 4.17 per cent growth, to close at N1.25 per share, while First Aluminum closed higher at N0.52, having appreciated by N 0.02 or 4.00 per cent.

AFRIPRUD gained N0.14 or 3.78 per cent to closed at N3.84 per share, while UACN closed the top five gainers table for the day with N0.62 or 3.67 per cent, closing higher at N17.51 per share.

The decliners table for the day was led by CILeasing which declined by 5 per cent or N1.71 closing lower at N1.71 per share, followed by Transcorp, which closed the day’s trade lower at N1.36 having lost N0.07 or -4.90 per cent, while Cadbury also dropped 4.76 per cent or N0.05, closing lower at N10.00 per share.

Sterling Bank lost 4.72 per cent or N0.05 to close at N1.01 per share, while Honeywell flour closed the top five decliners table with 4.64 per cent or N0.09 equity price loss, to close at N1.85 per share.

UBA with +1.11 per cent led on activity table with 33million units of shares, while Guaranty Trust Bank with +0.36 per cent or N389million topped the value chart on Tuesday.

the NSE Banking Index growth by +0.58% on the back of gains recorded in ACCESS bank’s +1.33 per cent and UBA +1.11 per cent.
NSE Consumer Goods Index closed positive with 1.22 per cent growth as a result of the gains in UACN which grew by +3.67 per cent and Dangflour that added 3.62 per cent.

However, the NSE Industrial Index declined by -0.23% driven by the losses in Dangcem, which dropped by -0.99 per cent. Also, the NSE Insurance Index declined by -0.56 per cent driven by the losses in LAWUNION -4.05 per cent and MANSARD by -0.28 per cent.

Stories by Bonny Amadi