Blue Chips Sustain Bearish Run As NSE Markt Cap Grabs N304b | Independent Newspapers Limited
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Blue Chips Sustain Bearish Run As NSE Markt Cap Grabs N304b

Posted: Sep 1, 2015 at 3:21 am   /   by   /   comments (0)

By Bamidele Ogunwusi and Gloria Ishaleku,


The equities market on Monday started the week on a positive note as demand surged especially for the blue chip stocks as the twin market indicators, the All Share Index and Market Capitalisation, appreciated by 3.02 per cent each.

The All Share Index appreciated by 870.22 basis points or 3.02 percent to close trading at 29,684.84 points compared with 28,814.62 recorded last Friday even as Market Capitalisation appreciated by N304.258 billion to close at N10.208 trillion as against N9.903 trillion recorded on Weekend.

At the close of trading a total of 510.364 million shares valued at N3.463 billion changed hands in 4.766 transactions while the financial services sector recorded a total of 216.515 million shares worth N886.122 million in 1,619 deals.

In the banking sub-sector, investors bought and sold a total of 172.535 million shares valued at N797.702 million in 1,209 transactions.

Investors were bullish on large-cap stocks with ACCESS appreciating by 10.1 per cent, Guinness; 9.4 per cent, Oando; 8.9 per cent, Guaranty Trust Bank; 5.5 per cent, Flour Mills of Nigeria; 5.0 per cent, Nigerian Breweries; 5.0 per cent and Dangote Cement; 1.5 per cent.

48 companies were on the gainers’ table while 9 stocks depreciated.

Guinness Nigeria led the gainers’ table when it led 47 others with a gain of N11.98 to close at N138.99 per share followed by Nestle Nigeria which appreciated by N11.78 and closed at N840.00 per share, breweries’ major, Nigerian Breweries nicked 578 kobo to closed at N121.49 per share, Lafarge Africa WAPCO appreciated by 298 kobo to close at N99.98 per share, while Dangote Cement notched up 258 kobo and closed at N172.47 per share among others.

On the decliners’ table, Julius Berger Nigeria led with a depreciation of 100 kobo to close at N42.00 per share, followed by Caverton Offshore Support Group which dropped 17 kobo to close at N3.25 per share, Computer Warehouse Group shed 14 kobo to close at N2.81 per share, E- Transact International lost 13 kobo to close at N2.58 per share, while R T Briscoe went down by 2 kobo to close at N0.51 per share, among others.

While reacting at the close of trading on Monday, analysts at UBA Capital said:  “We expect some bargain hunting this week, though overall bearish sentiment will continue to play. Tamer emerging market funds flow on the back of weak macro outlook will cap equity gains for the week”.