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NSE indices appreciate marginally by N4billion

By Helen Oji
22 February 2018   |   3:08 am
The bulls upstaged the bears on the equity sector of the Nigerian Stock Exchange (NSE), as more highly capitalised stocks joined the league of gainers, resulting to a marginal increase in market capitalisation by N4billion. Yesterday, the All-share index rose by 0.03 per cent or 9.92 points to 42,158.32 from 42,148.40 achieved on Tuesday. Also,…

Brokers on the floor of Nigerian Stock Exchange in Lagos.

The bulls upstaged the bears on the equity sector of the Nigerian Stock Exchange (NSE), as more highly capitalised stocks joined the league of gainers, resulting to a marginal increase in market capitalisation by N4billion.

Yesterday, the All-share index rose by 0.03 per cent or 9.92 points to 42,158.32 from 42,148.40 achieved on Tuesday. Also, the market capitalisation of listed equities appreciated by N4 billion from N15.125trillion to N15.129trillion.

The Chief Executive Officer, InvestData Research Consulting, Ambrose Omodion, explained that “The changing pattern in the market calls for changes in investors/traders strategies to play the earnings season. Also expect short term positioning for Q4 earnings reports, and volatility to continue as traders jump into the market on low price attraction ahead of dividend declaration.

“The relatively low interest rates in the money market and sell-off in the bond market will boost inflow into stock market, as fund managers play earnings season for quick returns target high dividend yield stocks. However, we would like to reiterate that investors should go for equities with intrinsic value, especially during this season that dividend payment is approaching.

“ We advise investors to allow numbers guide their decisions while repositioning for the rest of the year’s trading activities, especially now that stock prices remain volatile amidst improving company, economic and market fundamentals.”

Guaranty Trust Bank emerged the day’s highest price gainer with 0.75 kobo to close at N48.00 per share, while National Salt Company of Nigeria followed with 0.55 kobo to close at N20.55 per share.

Flour Mill added 0.55 kobo to close at N32.55 per share. Zenith Bank gained 0.45 kobo to close at N31.50 per share. United Bank for Africa advanced by 0.40 kobo to close at N12.60 per share.

Nestle topped the losers’ chart with 10.00 kobo to close at N1,370 per share while Mobil followed with 9.00 kobo to close at N190.00 per share. Nigerian Breweries depreciated by 3.50 kobo to close at N124.50 per share. Conoil lost 3.40 kobo to close at N32.10 per share. Julius Berger dropped 1.35 kobo to close at N25.95 per share.

Custodian and Allied insurance was the toast of investors with 94 million shares worth N377million. FBN Holdings followed with 61 million units worth N683million.

Fidelity Bank traded 455 million shares worth N169million. First City Monument Bank accounted for 48 million units valued at N110million. Transnational Corporation exchanged 31 million units worth N63million.

In all, Investors exchanged 570 million shares worth N5.3billion in 5,794 deals, higher than the 510 million units valued at N4.6billion that changed hands in 5,757 deals on Tuesday.

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