NSE’s market capitalisation rises by 0.2 per cent

IOSCO reinforces its position as key global reference point for markets regulation
At the close of the yesterday’s trade, the domestic equity market closed in positive territory as the All Share Index [ASI] moved marginally higher, amid positive investors’ cues.

Specifically, market capitalisation of listed equities grew by 0.11 per cent to N10.207 trillion from N10.196 trillion recorded the previous day. Also the NSE All Share Index increased by 31.92 basis points to 29700.08 points from 29668.16 points traded the previous day.

With no improvement on macroeconomic fundamentals, analysts believe market direction will be determined by the 9M 2015 earnings season that would commence shortly.

Oil and gas (0.86 per cent), insurance (0.52 per cent) and industrial goods (0.43 per cent) sectors gained the most on the day, while the banking sector (0.71 per cent) declined following losses from GTBank (1.37 per cent, ₦23.04), FBNH (0.84 per cent, ₦5.87) and Zenith Bank (0.59 per cent, ₦16.85) .

Hence, the ASI gained 11pbs yesterday to close at 29,700.08 basis points bringing year-to-date return to 14.30 per cent.

The day’s performance was predominantly driven by Dangote Cement (0.63 per cent, ₦161.01), LafargeHolcim (0.31 per cent, ₦98.85), Transcorp (0.46, ₦2.20), Forte Oil (2.27, ₦270), ETI (1.84 per cent, ₦18.85), and UACN (4.27 per cent, ₦26.85).

Market breadth however closed negative as Okomu Oil led 21 gainers against 23 losers topped by Access at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover also closed positive as volume moved up by 7.54 per cent against 29.23 per cent uptick recorded in the previous session. Zenith Bank, UBA and Continsure were the most active to boost market turnover. Forte Oil and Nigerian Breweries topped market value list.

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