NSE Index Adds 0.19% as Investors Sentiment Turns Positive

Trading activities at the Nigerian Stock Exchange, NSE, on Thursday, September 8, sustained the upward trajectory from the previous trading session, which saw the market leaping by 0.07%.

The All Share Index on Thursday, appreciated by 0.19 percent to close at 27,574.09 basis points compared with 0.07 percent gained on Wednesday to close at 27,522.62 basis points. Year to Date losses stands at -3.73 percent.

Market breadth settled at 23 gainers against 11 losers as investors’ sentiment turned positive. Topping the advancers’ chart for the day were Conoil Plc on account of an impressive 2015 financial year result released today, announcing a 300 kobo dividend declared to investors.

The company’s stocks thus surged by 4.96 percent or N1.02 to close at N21.59 per share, Vitafoam Plc followed with a growth of 4.91 percent or 14 kobo to close at N2.99 per share, Transnationwide Express Plc appreciated 4.90 percent or 5 kobo to close at N1.07 per share, Africa Prudential Registrars Plc increased by 4.87 percent or 11 kobo to close at N2.37 per share and Aiico Insurance Plc rose by 4.84 percent or 3 kobo to close at 65 kobo per share.

Conversely, Julius Berger Plc led the day’s losers for equities with a decline of 9.73 percent or N4.25 to close at N39.44 per share, Caverton Plc followed with a depreciation of 9.02 percent or 12 kobo to close at N1.21 per share, Wema Bank Plc lost 4.17 percent or 3 kobo to close at 69 kobo per share, UBA Plc declined 4.14 percent or 19 kobo to close at N4.40 per share and Flourmill Nigeria Plc depreciated 3.59 percent or 71 kobo to close at N19.04 per share.

The top three traded stocks were: UBA Plc with the sale of 67 million shares worth N302.4 million, followed by Skye Bank Plc that exchanged 33.3 million shares worth N21.9 million, and FBN Holdings traded 24 million stocks valued at N74.1 million.

At the close of the day, the volume traded settled at 242.7 million units from 295.7 million units traded yesterday and Value traded depreciated to N1.7 billion from previous day’s N3.6 billion.