The bullish run on the market was sustained into the 5th consecutive session on Wednesday as the All Share Index (ASI) rose 1.1% to 30,460.68 points driven by price appreciation in DANGCEM (+4.4%), GUINNESS (+9.7%) and UBA (+2.1%). Consequently, YTD loss moderated to -3.1% while market capitalisation increased by N120.5bn to N11.4tn. Activity level was however mixed as volume traded increased 1.9% to 305.8m units while value traded declined 35.3% to N2.1bn.
The local bourse maintained an upward trend on Tuesday, posting gains for the 4th consecutive session due to buying interest in ZENITH (+0.7%), DANGSUGAR (+3.9%) and STANBIC (+2.9%). Consequently, the All Share Index rose 58bps to 30,137.53 points, YTD loss moderated further to -4.1% while market capitalisation increased by N64.4bn to N11.2tn. Activity level also strengthened as volume and value traded surged 126.7% to 300.1m units and 199.2% to N3.2bn.
The domestic bourse opened the first trading session of the week on a positive note as gains in DANGCEM (+1.7%), FBNH (+1.4%) and DIAMOND (+3.9%) drove the All Share Index 0.4% higher to 29,964.79 points. Consequently, YTD return moderated to -4.7% while market capitalisation rose by N50.0bn to N11.2tn. On the other hand, activity level weakened as volume and value traded decreased 35.8% to 132.4m units and 60.5% to N1.1bn.
Shareholders have urged the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to introduce policies that would enhance minority shareholders’ protection in 2019, news agency Voice of Nigeria reports.
The National Coordinator, Progressive Shareholders Association of Nigeria (PSAN), Mr Boniface Okezie, who gave the advice, said that this would strengthen investors’ confidence in the country.
During Monday’s trading session, the equities market shed 21bps to settle at 30,609.06 due to losses in - GUARANTY (-2.7%), FBNH (-2.7%) and UNILEVER (-2.2%). Consequently, market capitalisation declined N26.5bn to settle at N11.2tn while YTD loss weakened to -20.0%. In line with the bearish performance, activity level worsened as volume traded depreciated 38.4% to 215.0m units and value traded declined 24.9% to N1.7bn.
The Nigerian Stock Exchange (NSE) market capitalisation has dropped further on Thursday by N27 billion.
The market capitalisation lost N27 billion or 0.24 per cent to close at N11.165 trillion against N11.192 trillion achieved on Wednesday.
Also, the All-Share Index which opened at 30,642.35 shed 74.30 points or 0.24 per cent to close at 30,568.05.
Market analysts attributed the persistent bear market to investors concerns toward the outcome of the forthcoming general elections.
Bargain hunting in banking stocks propelled a rebound in Tuesday’s session as the domestic equity market closed bullish. Bargain hunting in GUARANTY (+3.8%), UBA (+6.7%) and ZENITHBANK (+1.7%) drove the All Share Index (“ASI”) higher by 0.7% to settle at 31,007.25 points while YTD loss moderated to -18.9%. Investors' wealth improved as market capitalisation rose by N76.1bn to close at N11.3tn. Activity level weakened as volume and value traded declined by 20.5% and 22.2% respectively to close at 198.5m units and N2.1bn respectively.
In Monday’s trading session, the local bourse advanced 51bps to settle at 32,201.9 points on account of buy interests in market bellwethers – NIGERIAN BREWERIES (+2.7%), NESTLE (+1.4%) and FBNH (+2.0%). As a result, market capitalisation rose by N59.9bn to N11.8tn while YTD loss improved to – 15.7%. However, activity level weakened as volume and value traded shed 9.8% and 35.6% to 148.1m units and N1.8bn respectively.
The downtrend in the domestic equities market was sustained in Thursday’s session as the benchmark index slid 0.8% to settle at 32,108.92 points while YTD loss worsened to -16.7%. In the same vein, market capitalisation reduced by N89.1bn to N11.6tn while the major drags to performance were GUARANTY (-6.7%), INTERNATIONAL BREWERIES (-10.0%) and ZENITH (-3.1%). However, activity level was mixed as value traded declined by 1.8% to N2.5bn while volume traded increased by 52.3% to 349.2m units.
Photo L-R: Nornah Awoh, Chief Equity Analyst at Palesa Capital Markets Associates Limited; Friday Ekeoba, Secretary General, Capital Market Correspondents Association of Nigeria (CAMCAN); Chinyere Joel-Nwokeoma, Vice President, CAMCAN; Cyril Eigbobo, Chief Financial Officer, The Nigerian Stock Exchange (NSE); Dr.