Nigeria equities reverse loss with trading upbeat in DangSugar, FCMB, Union Bank

Nigeria equities reverse loss with trading upbeat in DangSugar, FCMB, Union Bank

An upbeat in trading activities in the shares of Dangote Sugar (+4.2%), Union Bank (+3.7%), and FCMB (+8.1%) on Tuesday helped to claw back losses in the domestic equities market resulting in a gain of about N31 billion as market capitalisation rose to N19.623 trillion from N19.592 trillion recorded in the previous day’s close.

The positive market performance also saw the All-Share Index rise by 0.15 percent to 37,640.75 points. Consequently, market year to date loss improved to -6.5 percent.

However, trading activity was mixed as the volume traded rose by 32.1 per cent to 216 million units while the total value traded fell by 21.1 per cent to N2.7 billion. The most traded stocks by volume were FCMB (40.7m units), Custodian Investment (15.8m units), and Guaranty Trust Company (13.4m units) while Guaranty Trust Company (N401.1bn), Seplat Petroleum (N309.9m), and Nigerian Breweries (N330.4m) led by value.

Across the various sectors, performance was mixed as 3 indices gained, 2 indices remained unchanged while an index lost. The insurance index led the gainers, up by 2.2 percent following price appreciation in Linkage Assurance (+10.0%), Mutual Benefits Assurance (+7.5%), and Aiico Insurance (+1.0%). Similarly, the banking and consumer goods indices rose by 25 basis points and 29 basis points respectively, largely attributed to buying interests in Union Bank (+3.7%), First Bank Holding (+1.4%), Cadbury Plc (+9.6%), and Nigerian Breweries (+0.3%). On the flip side, the oil & gas index shed 0.9 per cent due to price depreciation in Seplat Petroleum (-1.4%) and Eterna Plc (-1.3%). The industrial goods and ICT indices were unchanged on Tuesday. Read Also:

Investors sentiment strengthened to 2.2x from 0.7x recorded in the last trading session as 28 stocks advanced while 13 stocks declined. Ikeja Hotel (+10.0%), Linkage Assurance (+10.0%), and Cadbury Plc (+9.6%) led the gainers while Jaiz Bank (-5.2%), Veritas Kapital (-4.0%), and Unity Bank (-3.6%) led the decliners.

NGX 30

At the close of the day’s trading, the NGX 30 Index rose by 0.23 percent to close at 1,581.41 points as against 1,577.75 points on the previous day. Market turnover closed with a traded volume of 132.11 million units. FCMB and Okomu Oil were the key gainers, while Flour Mills and Unilever Plc were the key losers.

FX Market

In the currency market, the local currency, the naira, lost strength against the dollar to trade at N502/$1 in the parallel market while it appreciated by 0.11 percent at […]

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