Market reverses previous day loss with 0.73% gain
Market pulse on the Nigerian Stock Exchange (NSE) today – Thursday, March 9th, 2017 ended on a positive note as the stock market closed green. This was further highlighted by positive performance from the NSE Subsectors: Insurance (Save Banking, Consumer Goods and Oil & Gas). However, trading activities decreased in volume as 215.91m shares worth of N2.19 billion in 3,279 deals exchanged hands today. This is a decrease from as 218.72m shares worth of N3.90 billion in 3,191 deals which exchanged hands on Wednesday. Topping in volume terms are: Zenith Bank Plc, Fidelity Bank Plc and Guaranty Trust Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc ended trading as the most active stocks in value terms. Today, Brent crude oil price continues its bearish fall to settle at US$52.56 per barrel.
The All Share Index (NSEASI) closed positive with 0.74% (+184.34) decrease to close at 25,170.36 from 24,986.02 the previous trading day. Market capitalization appreciated in tandem to N8.71 trillion from N8.65 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with an increase of 0.75% to 104.51 from 103.73 recorded at the end of the previous trading day, while its market capitalization stood at N8.14 trillion from N8.08 trillion of the previous trading day.
Market breath closed positive today as 16 stocks gained on the bourse while 9 stocks also declined, leaving 17 stocks unchanged. Topping the Thisday BGL 50 Index gainers’ list is Nestle Nigeria Plc as it emerged as the day’s toast of investors with a gain of 5.00% to close at N725.55 per share. It was followed by Dangote Cement Plc with a gain of 5.00% to close at N159.75 per share. Others on the gainers list include: Honeywell Flour Mill Plc, Diamond Bank Plc and Access Bank Plc; while on the decliners’ list, Nigerian Breweries Plc lead with a loss of 6.75% to close at N130.36 per share. It was closely followed by Guaranty Trust Bank Plc with a loss of 5.16% to close at N24.61 per share. Others on the decliners list include: Nigerian Aviation Handling Company Plc, Transnational Corporation of Nigeria Plc and Forte Oil Plc..