Equities Market Swings Positive As Market Cap Grabs N30.8bn | Independent Newspapers Limited
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Equities Market Swings Positive As Market Cap Grabs N30.8bn

Posted: Oct 11, 2016 at 3:30 am   /   by   /   comments (1)


Bamidele Ogunwusi



Lagos – The Nigerian bourse rebounded Monday when the overall performance measures, the All Share Index and Market Capitalisation appreciated by 0.32 per cent each.

The All Share Index appreciated by 89.78 basis points or 0.32 per cent to close at 27,925.00 points as against 27,835.22 points recorded on Friday, while Market capitalisation closed at N9.591 trillion after it gained N30.837 billion as against N9.560 trillion recorded the previous trading day.

Nigerian Breweries led the gainers’ table when it added 221 kobo to close at N148.01 per share, followed by Lafarge Cement WAPCO appreciated by 180 kobo to close at N49.00 per share, Guaranty Trust Bank grabbed 45 kobo to close at N23.90 per share, Zenith Bank gained 32 kobo to close at N14.55 per share, while Union Bank Nigeria increased by 24 kobo to close at N5.04 per share, among others.

Breweries’ major, Guinness Nigeria, led the decliners’ table with a loss of 862 kobo to close at N79.83 per share, followed by petroleum marketer, Mobil Nigeria, which shed 672 kobo to close at N185.00 per share, GlaxoSmithKline Consumer dropped 60 kobo to close at N18.40 per share, Cement Company of Northern depreciated by 30 kobo to close at N5.70 per share, while Forte Oil went down by 21 kobo to close at N159.69 per share, among others.

Zenith Bank emerged the most traded equity on Monday with an exchange of 27.817 million shares worth N402.178 million.  It was trailed by Guaranty Trust Bank having accounted for 27.766 million shares valued at N662.450 million, while First City Monument Bank sold 16.732 million shares worth N19.496 million; United Capital exchanged 14.741 million shares valued at N37.175 million while FBN Holdings traded 14.487 million shares worth N45.063 million.

The financial services counters traded higher to top gainer’s chart with a positive daily return of 1.1% on account of position taking in Zenith Bank (+2.2%), Guaranty Trust Bank (+1.9%) and First City Monument Bank (+0.9%).

In a similar vein, the consumer and the industrial goods sector posted a gain of 0.2% apiece mostly driven by price appreciation in Lafarge Cement WAPCO (+3.8%), Nigerian Breweries (+1.5%) and International Breweries (+0.2%).

Conversely, the oil and gas sector trailed with a negative daily return of 0.4% underscored by sell-offs in the likes of Mobil Nigeria (-3.5%), Oando (-1.0%) and Forte Oil (-0.1%). The bullish open to the week can be attributed to position-taking across board with the exception of Oil and Gas sector which saw some profit booking.

Experts at United Capital said they “expect this momentum to be sustained going into today’s trading session as Q3-2016 earnings numbers begin to gradually trickle in”.

Comments (1)

  • Oct 11, 2016 at 6:49 am O.O.O



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