Equity market gains to halt losing streak

Market pulse on the Nigerian Stock Exchange (NSE) today- Wednesday May 13th 2015 was bullish as Brent crude oil price hit a price of $64.93 a barrel. The equity market closed green today and recorded were negative performances from the sectors save the insurance and oil and gas sector.

Trading activities decreased in volume as N350.8million shares worth N3.353billion in 4154 deals exchanged hands today. This is a decrease from N525.9million shares worth N3.289billion in 4364 traded deals carried out on Monday. Topping in volume terms was UBA Plc., First bank of Nigeria holdings Plc. and Access bank Plc. While UBA Plc and First bank of Nigeria holdings Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed positive with a 0.27% (92.81) increase to 34,208.30 from 34,115.49 the previous trading day. Market Capitalization depreciated in tandem to N11.617 trillion from N11.585 trillion the prior trading day. The Thisday BGL 50 Index also closed positive with a 0.35% increase to close at 143.25 from 142.74 the previous trading day, while its market capitalization stood at N10.586 trillion from N10.548 trillion the previous trading day.

A total number of 20 stocks gained on the bourse today while 27 stocks declined, leaving 84 stocks unchanged. 7-Up Bottling Comp. Plc. emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 5.00% to close at N 170.10per share. It was followed by Guinness Nig Plc with a gain of 3.23% to close at N 160.00per share. Others on the gainers list include Zenith Bank Plc, Eco bank Transnational Incorporated Plc and Guaranty Trust Bank Plc. On the decliners’ list, Honeywell Flour Mill Plc led with a loss of -5.00% to close at N3.80per share. It was followed by Fidson Healthcare Plc with a loss of -4.60% to close at N 3.11per share. Others on the losers list include; Mansard Insurance Plc, P Z Cussons Nigeria Plc. and Custodian And Allied Insurance Plc.