LAGOS FEBRUARY 24, 2017 – Trading on the floor of the Nigerian Stock Exchange (NSE) sprang to the upbeat after a day of downswing occasioned by profit takings. The bulls regained their grip on the market activities, as investors took position on the blue chip companies, despite speculation that the local bourse will sustain bearish trends.
With the overall performance indicators, NSE ASI and market capitalisation, each appreciating by 0.63 per cent, investors got respite, as transactions in blue chip companies lifted the equities market.
Consequently, the All- Share Index gained 159.32 basis points or 0.63 per cent to close at 25.409.06 basis points as against 25.249.74 recorded the previous day, while the market capitalisation of equities appreciated by N55 billion or 0.63 per cent to close at N8.793 trillion from N8.738 trillion. Meanwhile, a turnover of 146.71 million shares in 2,563 deals was recorded in the day’s trading.
The banking sub sector of the financial services sector was the most active (measured by turnover volume); with 50.7 million shares exchanged by investors in 706 deals. Volume in the sub-sector was largely driven by activities in the shares of Fidelity Bank Plc and GTB Plc. Also, other financial sub sector, boosted by the activities in the shares of FCMB Plc and United Capital Plc followed with a turnover of 47.3 million shares in 343 deals.
The number of gainers at the close of trading session was 13, while decliners closed at 15. Further analysis of the day’s trading showed that Berger Paints Nigeria Plc topped the gainers’ table with 4.93 per cent to close at N6.38 per share, while Guinness Nigeria Plc trailed with 4.81 per cent to close at N68.00 per share. NPF MFB Plc gained 4.55 per cent to close at N1.15 per share.
On the flip side, Unilever Nigeria Plc led the losers’ chart with a drop of 4.99 per cent to close at N29.16 per share. UACN Plc followed with a loss of 4.98 per cent to close at N12.02 per share, while UAC-Property Plc dropped 4.74 per cent to close at N1.81 per share.
