NSE ASI resumes uptrend with 0.03% growth

Posing a mild rebound from the 0.88 percent decline recorded on Monday, the Nigerian Stock Exchange All Share Index rose by 0.03 per cent to settle at 38,924.63 basis point at the end of business on Tuesday.

The day’s performance was led by Union Bank of Nigeria that topped the list of 20 gainers following an appreciation of 10.01 per cent to close at N7.91 per share. It was followed by Diamond Bank that grew 7.14 per cent to close at N1.50 and Berger that gained 4.90 per cent to close at N7.71 per share.

Tuesday’s performance brings the NSE’s YtD returns to 44.84 per cent
The volume of shares traded closed 32 percent higher than previous day’s trade at 462.7 million units worth N26.8 billion. The shares were traded in 5,090 deals thus bringing equities market capitalisation to N13.556 trillion.

The day ended with 23 losers topped by FCMB that shed 4.69 per cent to close at N1.22 per share, Fidelity Bank that fell 4.64 per cent to close at N2.26 per share and Nahco that dropped 4.64percent also to close at N4.32 per share.

Top five traded equities were Dangote Cement that exchanged 95.5 million units at N23.3 billion, Diamond Bank that sold 51.2 million units at N76.1 million, FBN Holdings that traded 49.9 million units for N456.7 million, FCMB’s 48.1 million units traded at N59 million and Mansard’s dealing of 39.9 million units valued at N79.9 million.

Surprisingly, of the five major sectoral indices, the consumer goods sector emerged the sole gainer, appreciating 0.27 per cent on the back drop of price appreciation in Guinness, Dangote Flour and Nascon, while the Banking, Industrial, Insurance, and oil and gas indices lost 0.13 per cent, 0.29 per cent, 0.27 per cent and 0.40 per cent respectively.

Adesola Afolabi