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Equities rebound with N93b gains - Printable Version +- Forums (http://contripeople.com) +-- Forum: General Discussion (http://contripeople.com/forumdisplay.php?fid=5) +--- Forum: Market Place (http://contripeople.com/forumdisplay.php?fid=77) +--- Thread: Equities rebound with N93b gains (/showthread.php?tid=21154)

Equities rebound with N93b gains - Edoman - 08-20-2019 Equities rebound with N93b gains [/url] [url=https://thenationonlineng.net/wp-content/uploads/2019/01/Oscar-Onyema.png] Nigerian equities reopened yesterday to a streak of bargain-hunting as investors sought to take advantage of the steep depreciation in share prices in recent days. Benchmark indices at the Nigerian Stock Exchange (NSE) indicated average gain of 0.71 per cent yesterday, equivalent to net capital gains of N93 billion. The All Share Index (ASI)- the value-based common index that tracks share prices at the NSE, appreciated from its opening index of 26,925.29 points to close at 27,115.89 points. Aggregate market value of all quoted equities also improved from opening value of N13.121 trillion to close at N13.214 trillion. The negative average year-to-date return improved to -13.73 per cent. With 20 advancers against 13 decliners, the positive overall market position was driven by widespread bargain-hunting transactions, especially within the large and mid-cap stocks. Sectoral indices however showed mixed performance as losses by some large-cap stocks weighed down many indices. The NSE Banking Index appreciated by 1.34 per cent while the NSE Oil & Gas Index rose by 0.59 per cent. However, the NSE Insurance Index depreciated by 2.41 per cent. The NSE Consumer Goods Index declined by 1.59 per cent while the NSE Industrials Goods Index dipped by 0.25 per cent. MTN Communications Nigeria led the gainers with a gain of N3.70 to close at N138.70. Stanbic IBTC Holdings followed with a gain of N1 to close at N34. Dangote Cement rose by 50 kobo to close at N164.50. Zenith Bank added 40 kobo to close at N17. Dangote Flour Mills chalked up 35 kobo to close at N21 while Guaranty Trust Bank and UAC of Nigeria added 30 kobo each to close at N26.30 and N4.80 respectively. On the negative side, Nestle Nigeria led the losers with a drop of N29.10 to close at N1,113.90 per share. Cadbury Nigeria followed with a loss of N1 to close at N9.30. Dangote Sugar Refinery declined by 50 kobo to close at N9.10. Lafarge Africa dropped by 25 kobo to close at N13.75. Eterna and AXA Mansard lost 10 kobo each to close at N2.50 and N1.70 respectively while Continental Reinsurance slipped by 5.0 kobo to close at N1.40 per share. Total turnover stood at 250.74 million shares valued at N4.17 billion in 4,116 deals. Lafarge Africa was the most active stock with a turnover of 47.15 million shares worth N660.02 million. Transnational Corporation of Nigeria followed with a turnover of 41.07 million shares valued at N36.96 million while Zenith Bank placed third with 26.72 million shares worth N452.63 million.