Stocks ap­pre­ci­ate by 0.93%

Daily Trust - - BUSINESS - From Sun­day Michael Ogwu, La­gos

In­vestors re­main bullish for the sec­ond day run­ning, as the All share in­dex (ASL) ap­pre­ci­ated by 0.93% to close 28,205.62 ba­sis points, de­spite the neg­a­tive re­ac­tion that trailed the in­crease in Mon­e­tary Pol­icy rate from 12 to 14 per­cent by the Cen­tral Bank of Nige­ria (CBN) on Tues­day.

Mar­ket turnover closes pos­i­tive as vol­ume moved up by 70.52% against 24.25% de­cline recorded in the pre­vi­ous ses­sion. FBNH, UBA and AC­CESS were the most ac­tive to boost mar­ket turnover. DANGCEM and GUAR­ANTY top mar­ket value list.

Mar­ket breadth closed pos­i­tive as OKOMUOIL led 24 gain­ers against 23 Losers topped by REDSTAREX at the end of to­day’s ses­sion- an unim­proved per­for­mance when com­pared with pre­vi­ous out­look.

Okomuoil per­for­mance came on the heel of re­ported Q2 2016 re­sults which showed that sales of N4.2bn were up 64% y/y while PBT and PAT grew by wider mar­gins of 139% y/y and 147% y/y re­spec­tively to N2.3bn and N2.0bn. The strong sales growth was mainly re­spon­si­ble for the growth in earn­ings.

MO­BIL leads the list of ac­tive stocks that recorded im­pres­sive vol­ume spike at the end of to­day’s ses­sion.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.