Renewed Positive Trend Sustained On Stock Market As Index Appreciates By Modest 0.29%

Trading activities on the Nigerian stock exchange decreased on Wednesday by 0.45.24% as investors bought 193.24 million shares worth N2.66 billion, in 4,010 deals, compared to 352.91 million shares worth N3.28 billion, in 6,100 deals exchanged on Tuesday. Sterling Bank Plc., ETI and Transcorp Plc were the most actively traded stocks on the exchange today in terms of volume, while Dangote Cement Plc., ETI and Nigerian Brew. Plc. Plc topped in terms of value.

The Nigerian Stock Exchanges-All Share Index appreciated by 0.87% (+336.95) to close at 39,113.62 from 38,776.67 attained on Tuesday. Market capitalisation also increased to N12.91 trillion from N12.80 trillion the previous trading day. The BGL 50 Index also followed suit with a 0.59% gain to close at 167.74 from 166.76, while the market capitalisation stood at N12.10trillion from N12.03 trillion recorded on Tuesday.

A total number of 26 stocks gained on the bourse today while 19 stocks declined leaving 63 stocks unchanged. Costain (W A) Plc emerged the toast of investors as it appreciated by 9.09% to close at N0.96 kobo, followed by Guinness Nig Plc with a 8.37% gain to close at N192.90 kobo. Others on the gainers chart include NASCON, Lear Africa Plc and Cutix Plc. On the flip side Unilever Nigeria Plc topped the losers chart with 5.01% declines to close at N40.16 followed by Ikeja Hotel Plc which declined by 4.92% to close at N3.09 kobo. Others on the losers table include RT Briscoe Plc, PZ Cussons Nigeria Plc and Uba Capital Plc.

Topping the chart amongst the BGL 50 stocks was Guinness Plc emerged the toast of investors as it appreciated by 8.37% to close at N192.90 kobo, followed by National Salt Co. Nig. Plc with a 7.77%% gain to close at N9.29 kobo. Others on the gainers chart include; Ecobank Transnational Incorporated, Livestock Feeds Plc. and Diamond Bank Plc. On the flip side Unilever Plc topped the losers chart with 5.01% declines to close at N40.16 kobo followed by PZ Cussons Nigeria Plc which declined by 4.47% to close at N26.50 kobo. Others on the losers table include; Skye Bank Plc., Access Bank Plc. and Continental Reinsurance Plc.

Guaranty Trust Bank Plc released its 9-month results for the period ended September 30th 2014, showing an increase of 9% in Revenue from N181.99 billion to N199.24 billion in 2014. However, profit before tax decreased by a modest 2% to N80.70 billion from N82.38 billion over the period while net income also followed suit with a 4% decrease to N66.74billion in 2014 from N69.24 billion in 2013.

Author: News Editor

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