Daily Market Update –May 17, 2013

Photo L-R: NSE’s ED, Market Operations Technology, Ade Bajomo;  NSE’s CEO, Oscar Onyema; Vice President, Association of Investment Advisers and Portfolio Managers (IAPM), Oluwatoyin Sanni; and NSE’s ED, Business Development, Haruna Jalo-Waziri at the  Council Members of IAPM courtesy call to the Exchange on Friday.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) remained bullish today, as market capitalisation of equities further appreciated by 1.39% to close at ₦11.80 trillion, from ₦11.64 trillion.

The NSE All-Share Index also appreciated by 1.39% to close at 36,907.81 basis points as against yesterday’s figures of 36,400.16; putting year-to-date returns at 31.44%.

Sentiments were skewed to the sell side for most companies in the banking sector today, FBN Holding and Zenith Bank lost 2.2% and 0.6% while FCMB, Fidelity Bank and Skye Bank and were not spared either with losses of 0.4%, 0.6% and 1.3% respectively. On the flip side Sterling Bank, Diamond Bank and Access Bank were top gainers today with price appreciation of 5.4%, 1.0% and 0.9% apiece.