Equities market rebounds by 0.02% amid gains in 16 shares

The equities market of the Nigerian Stock Exchange (NSE) All-Share Index (ASI) on Tuesday rebounded by 0.02 percent, over to gains recorded by 16 shares.

Specifically, the ASI rose by 3.82 basis points or 0.02 percent to close at 25,136.49 basis points compared with 25,132.67 basis points achieved on Monday.

Also, the market capitalisation grew by two billion or 0.02 percent to close at N13.112 trillion against N13.110 trillion recorded on Monday.

Consequently, the Month-to-Date gain increased to +1.8per cent while the Year-to-Date loss moderated to -6.4 percent.

Across sectors, the Insurance (+0.9 percent) and Banking (+0.5 percent) indices recorded gains, while the Oil & Gas (-1.8 percent), Consumer Goods (-0.1 percent), and Industrial Goods (-0.02 percent) indices declined.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Dangote Sugar, Flour Mills, United Bank for Africa (UBA), University Press, and Guinness.

Consequently, market breadth closed positive, with 16 gainers compared with 13 losers.

University Press drove the gainers’ chart in percentage terms, gaining 9.91 percent to close at N1.22 per share.

Cornerstone Insurance came second with a growth of 9.43 percent to close at 58k, while Lasaco Assurance rose by 7.14 percent to close at 30k per share.

United Capital increased by 3.23 percent to close at N3.20, while Sterling Bank appreciated by 2.61 percent to close at N1.18 per share.

Conversely, Conoil Plc led the losers’ chart in percentage terms with a loss of 9.76 percent to close at N15.25 per share.

Ardova Plc and Oando Plc followed with 9.68 percent each, to close at N12.60 and N2.24 per share, respectively.

Fidson dipped 5.25 percent to close at N3.79, while Japaul Oil shed 4.76 percent each to close at 20k per share.

In the same vein, the volume of shares traded grew by 68.08 percent as investors bought and sold 271.002 million shares worth N2.46 billion in 3,693 deals.

This was in contrast with a total of 161.23 million shares valued at N1.85 billion transacted in 3,597 deals on Monday.

Zenith Bank topped the activity chart, accounting for 35.84 million shares worth N600.20 million.

Guaranty Trust Bank followed with 35.29 million shares valued at N877.02 million, while Lasaco Assurance traded 33.07 million shares worth N9.89 million.

Access Bank accounted for 23.74 million shares valued at N152.05 million, while Transcorp sold 15.51 million shares worth N9.43 million.