NSE’s All-share index appreciates by 0.3 per cent

By Bukky Olajide   |   27 August 2015   |   11:02 pm  

Nigerian Stock Exchange (NSE)

Nigerian Stock Exchange (NSE)

The equities market closed yesterday on a positive note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] appreciated by 0.30 per cent to close at 28,137.65basis points, compared with 2.32 per cent drop recorded previously. Its Year-to-Date (YTD) returns currently stands at 18.57 per cent.

Market breadth however closed negative as Skye Bank led 20 gainers against 31 losers topped by Flourmill at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover equally closed negative as volume declined by 31.19 per cent against 19.91 per cent decline recorded in the previous session. UBA, Zenith Bank and Skye Bank were the most active to boost market turnover. Guaranty and Zenith Bank topped market value list.

Volume shockers included Vono which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, talking about how long investors would have to wait for the delayed rally in the markets, a capital market operator and the Managing Director Of Maxifund, Okechukwu Unegbu told The Guardian that it is a difficult phase for the market at the moment. According to him, there is investor apathy and this is going to be for sometime because there is no news to rev up the market, so investors are advised to be cautious in dealing.

‘’So it is not easy to say how long investors have to wait before the market picks up even though volume is on the rise. This is a pointer that profit takers are on the rise waiting for a rally. All the same this is the best time to play the market,’’ he said.



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