Stocks Bounce Back with First Gain of N29 Billion in 2016 After Weak Start

Transactions on the Nigerian Stock Exchange which have been on negative trend since beginning of the year regained positive momentum on Thursday, January 7.

The market capitalization which opened with N9.348 trillion added N29 billion to close at N9.377 trillion.

However, the NSE All Share Index appreciated by 85.42 points or 0.31 per cent to close at 27,266.18 basis points, compared with the 3.28 per cent depreciation recorded previously.

Market breadth closed negative as E-Tranzact Plc led 6 gainers against 30 losers topped by Seplat Petroleum Development Company Plc at the end of the trading which was an unimproved performance when compared with previous outlook.

Market turnover closes negative as volume declined by 17.92 per cent against 3.45 per cent uptick recorded in the previous session. Guaranty Trust Bank Plc, Access Bank Plc and UBA Plc were the most active to boost market turnover. Guaranty Trust Bank Plc top market value list.

Stanbic IBTC Holdings leads the list of active stocks that recorded impressive volume spike at the end of the session.

Top on gainers’ log was Dangote Cement Plc with a gain of N6.55 kobo to close at N159.98 kobo. Others include Okomu Oil Plc with N1.52 kobo to close at N33.00 kobo, E-Tranzact Plc with N0.15 kobo to close at N3.19 kobo per share, Fidson Healthcare Plc with N0.11 kobo to close at N2.70 kobo per share and Vono Products Plc with a gain of N0.03 kobo to close at N0.92 kobo per share.

On the other hand Seplat Petroleum Development Company Plc topped losers chart with N7.03 kobo to close at N185.26 kobo, 7-Up Bottling Company Plc with N3.63 kobo to close at N185.26 kobo per share, Zenith Bank Plc with N0.46 kobo to close at N13.40 kobo and Union Bank of Nigeria Plc with N0.32 kobo loss to close at N6.24 kobo per share.