Market gains two consecutive days as confidence builds
Market pulse on the Nigerian Stock Exchange (NSE) today – Thursday, April 6th, 2017 ended on a positive note as the stock market closed green as more companies release full year financial results and investors’ profit positioning raise risk appetite. This was further highlighted by positive performance from the NSE Subsectors: Banking, Insurance, Consumer Goods and Oil & Gas. Likewise, trading activities increased in volume as 241.62m shares worth of N1.49 billion in 3,339 deals exchanged hands today. This is an increase from 158.71m shares worth of N1.13 billion in 3,048 deals which exchanged hands on Wednesday. Topping in volume terms are: FBN Holdings Plc, Fidelity Bank Plc and United Capital Plc; Guaranty Trust Bank Plc and Zenith Bank Plc ended trading as the most active stocks in value terms. Brent crude oil price today settles at US$54.77 per barrel.
The All Share Index (NSEASI) closed positive with 1.11% (+283.49) increase to close at 25,755.18 from 25,471.69 the previous trading day. Market capitalization appreciated in tandem to N8.91 trillion from N8.81 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with an increase of 1.27% to 106.76 from 105.42 recorded at the end of the previous trading day, while its market capitalization stood at N8.31 trillion from N8.21 trillion of the previous trading day.
Market breath closed positive today as 19 stocks gained on the bourse while 18 stocks also declined, leaving 70 stocks unchanged. Topping the Thisday BGL 50 Index gainers’ list 7-Up Bottling Comp. Plc as it emerged as the day’s toast of investors with a gain of 9.40% to close at N104.90 per share. It was followed by Oando Plc with a gain of 7.27% to close at N6.20 per share. Others on the gainers list include: Honeywell Flour Mill Plc, Lafarge Africa Plc and Continental Reinsurance Plc; while on the decliners’ list, AIICO Insurance Plc lead with a loss of 1.82% to close at N0.54 share. It was followed by Sterling Bank Plc with a loss of 1.37% to close at N0.72 per share. Others on the decliners list include: International Breweries Plc, FBN Holdings Plc and Dangote Sugar Refinery Plc.