The Nigerian Stock Exchange (NSE) All Share Index (ASI) rose by 0.43% yesterday which impacted positively on the Year-to-Date (Ytd) return which stood at -1.03 percent.
Forte Oil plc, Dangote Cement plc, Nestle Nigeria plc, Presco plc, and Julius Berger Nigeria plc occupied the topmost position among 26 gainers against 18 losers.
The (NSE) All Share Index closed at 34,298.64 points against the preceding trading day level of 34,151.81 points while market capitalisation closed at N11.653trn against preceding close of N11.603trn.
The volume of stocks traded rose by 152.9 percent, from 220.47m to 557.61m, while the total value of stocks exchanged rose by 35.29 percent from N2.74bn to N3.71bn in 3,663 deals.
Forte Oil plc rallied from N177.8 to N185, adding N7.2; Dangote Cement plc rose by N2, from N177 to N179; Nestle Nigeria plc gained N1, from N870 to N871; Presco plc gained N0.99, from N30.01 to N31; while Julius Berger Nigeria plc appreciated by N0.7, from N52 to N52.7.
“Despite the weak sentiment and uncertainty trailing the market, we think the gains recorded today (yesterday) suggests a comeback of the bargain hunters; we suspect this might be sustained in the coming session. This said, we advise investors to play the market with caution and focus on fundamentals,” said investment analysts at Lagos-based United Capital plc.
On the losers’ table, Seplat Petroleum Development Company plc led others after shedding N5, from N340 to N335; Nigerian Breweries plc lost N2, from N154 to N152; Okomu Oil Palm plc also declined from N30.26 to N29.5, losing N0.76; Eco Bank Transnational Incorporated plc dipped by N0.2, from N21.7 to N21.5; while Oando plc also dipped by N0.18, from N18.2 to N18.02.
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