The Nigerian Stock Exchange (NSE) All Share Index (ASI) recorded a new high of 40,012.66 points yesterday as bulls consolidated their position at the Nigerian bourse.
This is compared with the preceding day’s level of 39,737.79 points. The buy tendencies which spiked the market’s performance indicator also impacted on the equities market capitalisation which closed high at N12.854trillion at the close of transactions on Customs Street.
In 7,844 deals, equity traders exchanged 988,036,607 shares valued at N5.7billion. Deals recorded in the shares of IHS plc, Wema Bank plc, Transnational Corporation plc, Resort Savings and Loans plc, and UBA plc helped to buoy the market’s volume yesterday.
Top on the gainers list yesterday was Flour Mills of Nigeria plc which gained N9.51 after its share price rose from N95.16 to N104.67. Total plc rose from N165 to N170, adding N5. Guinness plc also rallied from N288 to N293, adding N5. Presco plc rose from N34 to N37.40, adding N3.40; while PZ plc firmed from N52.98 to N56, adding N3.02.
On the losers chart, Nigerian Breweries plc led other decliners after its share price dipped from N177 to N174, losing N3. Lafarge Cement Wapco plc declined from N99 to N98, losing N1. Oando plc declined from N15.07 to N14.17, shedding N0.90; and GTBank plc which dropped from N28.30 to N28, after losing N0.30. “Market outlook reveals sustained moderate patronage as bulls hold ground against speculative pressure,” said Proshare analysts.
Abiola Rasaq, senior analyst at UBA Capital plc said: “Bucking the sell-off in the bonds market, Nigerian equity market edged higher. The NSE Index gained 69bps, thanks to the “defensive Financials” and Consumer Goods counters. Recording