Stock mar­ket ends 2019 with N362bn gain

The Punch - - CAPITAL MARKET - Sto­ries: Fey­isayo Popoola

The na­tion’s stock mar­ket ended the year with a N362bn gain as the last three trad­ing days of the year saw pos­i­tive per­for­mances.

The mar­ket cap­i­tal­i­sa­tion of eq­ui­ties listed on the NSE in­creased from N12.595tn on Tues­day last week to Nn12.753tn on Fri­day.

The gain­ing streak was sus­tained on Mon­day as the mar­ket cap­i­tal­i­sa­tion in­creased fur­ther to N12.846tn and the N12.958tn which it closed at on Tues­day.

The All Share In­dex in­creased by 87 ba­sis points on the last day of trad­ing in 2019.

An­a­lysts at Afrin­vest Se­cu­ri­ties Lim­ited said the eq­ui­ties mar­ket posted a bullish per­for­mance as buy­ing in­ter­est in Se­plat Pe­tro­leum Devel­op­ment Com­pany Plc, Stan­bic IBTC hold­ings Plc and La­farge Africa Plc pulled the ASI higher to close at 26,842.07 points.

They said they be­lieved the pos­i­tive per­for­mance was partly driven by port­fo­lio re­bal­anc­ing ac­tiv­i­ties by as­set and port­fo­lio man­agers.

Con­se­quently, the yearto-date re­turn mod­er­ated to -14.6 per cent while mar­ket cap­i­tal­i­sa­tion in­creased by N112.4bn.

Ac­tiv­ity level on the last trad­ing day was mixed as vol­ume traded rose by 175.2 per cent to 1.054 bil­lion units while value traded fell by 23.5 per cent to N5.496bn.

The top traded stocks by vol­ume were Ac­cess Bank Plc (47.3 mil­lion units), United Bank for Africa Plc (37.4 mil­lion units) and Zenith Bank Plc (29.8 mil­lion units) while Dan­gote Ce­ment Plc (N2.4bn), Zenith Bank (N554m) and Ac­cess Bank (N471.4m) were the top traded stocks by value.

In line with mar­ket per­for­mance, sec­tor per­for­mance was broadly pos­i­tive as all sec­tors recorded gains, save the con­sumer goods in­dex, which closed neg­a­tive, down 0.3 per cent on the back of losses in Nige­rian Brew­eries Plc and Dan­gote Sugar Re­fin­ery Plc.

The oil and gas in­dex led gainers, up by 6.7 per cent fol­low­ing buy­ing in­ter­est in Se­plat Pe­tro­leum and Oando Plc.

The in­dus­trial goods and in­surance in­dices trailed, gain­ing 2.2 per cent and two per cent, re­spec­tively, as in­vestors po­si­tioned in La­farge, Dan­gote Ce­ment, AXA Mansard In­surance Plc and Pres­tige Paints Plc.

The bank­ing in­dex closed higher by 1.4 per cent buoyed by price ap­pre­ci­a­tion in Guar­anty Trust Bank Plc, Ac­cess Bank and Zenith Bank while the AFR-ICT in­dex closed flat.

In­vestor sen­ti­ment strength­ened as mar­ket breadth (ad­vance/de­cline ra­tio) weak­ened to 1.8x from the 2.0x recorded on Mon­day as 24 stocks ap­pre­ci­ated com­pared with 13 de­clin­ers.

The top gainers were Se­plat Pe­tro­leum, AXA

Mansard, Vitafoam Nige­ria Plc, Glax­osmithk­line Nige­ria Plc and Cor­ner­stone In­surance Plc, which saw re­spec­tive gains of 10 per cent, 10 per cent, 10 per cent, 9.9 per cent and 9.8 per cent.

The top five losers were UPDC Real Es­tate In­vest­ment Trust, Cu­tix Plc, Lasaco As­sur­ance Plc, Chams Plc and Africa Pru­den­tial Plc, whose re­spec­tive share prices shed 9.6 per cent, 8.3 per cent, 7.4 per cent, 5.7 per cent and 4.3 per cent.

•L–R: Brand Man­ager, Nige­rian Stock Ex­change, Mr Joseph Og­beide; Head, Bro­ker Dealer Reg­u­la­tion, Olufemi Shobanjo; Elsie Okpocha; Divi­sional Head, Shared Ser­vices, NSE, Bola Adeeko; co­me­dian, Bright Okpocha (aka Bas­ket­mouth); Tal­ent Man­ager, Ann Obaseki; Head, Mar­ket Oper­a­tions, NSE, Ken­neth Nwafor; and Head, State Owned En­ter­prise List­ings, NSE, Ope­oluwa Ade­sanya, at the end of year Clos­ing Gong Cer­e­mony at the Ex­change, in La­gos... on Tues­day. Photo: NSE

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