NSE-ASI gains 0.02% as investors’ pessimism persists

The Nigerian Stock Exchange on Wednesday, posted slight boost in its [performance indices as the markets’ NSE-ASI closed virtually flat, gaining 0.02 per cent in trading session.

This was a result of mixed movement in some large and mid-cap stocks such as Nestle, Zenithbank, Unilever, NB, Glaxosmith, among others.
At the close of trade, the market capitalization closed at N12, 745, trillion, from N12, 738trn that opened trading for the day, reflecting N06.8 billion, while NSE’s All-Share Index closed at 36,608.76, from 36,600.07 that opened trade on Wednesday.

Market price movement index closed negative as 17 stocks gained against 23 stocks that declined, UBN with gain of 0.81 per cent was the most actively traded stock with 70million units of shares transacted. Dangote Cement led the market in terms of value with N1.1bn turnover transacted on Wednesday.

Analysis of transaction for the day showed that Unilever led the gainers table with 5.69 per cent growth in its equity price, while Glaxo Smithkline led the decliners table with 9.70per cent drop in price.
Sector Performance showed that the NSE Banking Index: grew by 0.24 per cent on the back of gains recorded in Zenith bank’s +1.28 per cent gain and UBA’s 1.04 per cent gain.

NSE Consumer Goods Index advanced by 0.27 per cent on account of rise in Unilever gain by 5.69 per cent and gain of 3.08 per cent posted by Nestle Plc.

The report further showed that the NSE Insurance Index closed positive +0.20 per cent due to 4.92 per cent equity price growth posted by Linkage Assurance and Wapic’s 4.00 per cent appreciation. The NSE Industrial Index as well as the NSE Oil and Gas Index closed the day’s trade flat, respectively.

Stories by Bonny Amadi