Oil and Gas Sector Boost Equities Market 0.16 percent Rebound
A 1.15 percent increase in the NSE Oil and Gas Index on Thursday boosted Nigerian equities market to end a four-day negative trend. The All Share Index (ASI) thus rose by 0.16 per cent to settle at 32,354.78 points.
The Oil and gas index which posted the highest growth among sector indices was strengthened by gains recorded in Oando and Seplat that increased 4.97 percent and 1.08 percent respectively leading to a positive close of 316.95 pointsin the index.
The day’s performance advanced year-to-date gains to 20.43 per cent and reduced month-to-date loss to 2.34 per cent.
Market capitalization also improved by N18.1 billion to close at N11.151 trillion against N36.7 billion shed in the previous session.
Market closed with 20 gainers against 23 losers. Oando led the day’s gainers by 4.97 per cent to close at N7.39 per share, while Axa Mansard followed, with a gain of 4.91 per cent, to close at N2.35 per share, 7up added 4.85 per cent to close at N82 per share, Cutix Plc increased 4.76 per cent to close at N2.20 per share; and FCMB appreciated 4.35 per cent to close at N1.20 per share.
Conversely, May & Baker topped the day’s losers with a decline of 9.40 per cent to close at N3.18 per share, UACN came next with a decline of 4.95 per cent to close at N16.50 per share. Fidson followed, with a loss of 4.93 per cent to close at N2.70, Flourmill dipped 4.93 percent to close at N22 per share and Red Star Express fell 4.89 per cent to close at N5.06 per share.
Guaranty led the day’s activity chart with an exchange of 36.3 million shares worth N1.2 million. Transcorp was next with the sale of 21.3 million shares valued at N28.1 million, while FBN Holdings traded 16.1 million shares worth N97.5 million. Sterling Bank exchanged 12.1 million shares valued at N12.4 million, and Livestock feeds emerged the fifth most traded stock with 8.4 million shares worth N8.5 million.
In all, investors exchanged a total of 168.5 million shares valued at N3.6 billion in3,536 deals
