Home Markets Equity market reverses loss streak, gains 0.31%

Equity market reverses loss streak, gains 0.31%


After two days of post-Easter unimpressive sessions, trading in major blue chip stocks among other positive forces pulled the equity market out of its loss streak Thursday, as the trading session closed with 0.31 percent gain.

In specific terms, the All Share Index (ASI) gained 125.83 absolute points, representing a growth of 0.31 percent to close at 40,875.69 points. Similarly, the Market Capitalization gains N45.45 billion, representing a growth of 0.31 percent to close at N14.77 trillion.

However, market breadth closed negative, recording 21 gainers against 22 losers.

At the close of trading for the day, Dangote Cement added N4.00 or 1.59 percent to close at N255 per share. It was trailed by ETI with 65 kobo or 3.89 percent value addition to settle at N17 and Eterna Oil up 28 kobo or 4.66 percent to close at N6.29 per share.

National Association of Salt Company of Nigeria (NASCON) surged two kobo or 0.95 percent to close at N21.2, while Zenith Bank came last in the rank of top five, rising 15 kobo or 0.55 percent to close at N27.5 per share.

Conversely, Glaxosmthkline led the losers with N3.35 or 9.61 percent value depreciation to close at N31.5 per share. International Breweries dropped N2.7 or 4.96 percent to close at N51.7 per share, while Julius Berger also dippedN1.2 or 4.63 percent to close at N24.7 per share.

The share price of Nigerian Breweries, which came fourth on the losers’ table with seven kobo or 0.54 percent loss to close at N128.3 compared to Union Bank of Nigeria’s loss of three kobo or 4.32 percent to close at N6.65 per share.

In all, investors staked N7.67 billion on 495.64 million ordinary shares exchanged hands in 4,614 deals.

The Naira at the inter-bank began the trading week at N305.60, unchanged against yesterday’s closing price, while the Investors and Exporters (I&E) FX window opened at N360.15, traded high at N361.50 and eventually closed at N360.45, representing a 0.08 percent depreciation against yesterday’s exchange rate.

A total of $170.21 million was transacted through the I&E window.