Stock Market Update: Upward Trend Sustained With Modest Gain

Market pulse on the Nigerian Stock Exchange (NSE) today- Monday March 2nd 2015, was bullish, as Oil dropped nearly 2%, with Brent slipping under $62 a barrel, depressed by a stronger dollar and a rise in Libyan crude output. The equity market closed green due to positive performances from the banking and consumer goods sectors, despite the oil & gas and insurance sectors closing red. Trading activities decreased in volume as 261.82 million shares worth N2.98 billion in 3,329 deals exchanged hands today. This is a decrease from the 399.26 million shares worth N5.38 billion in 3,507 trades carried out on Friday. Topping in volume terms was UBA Plc. Diamond Bank Plc and FBN Holdings Plc., while Nigerian Breweries Plc. and Guaranty Trust Bank Plc. ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed positive with a 0.54% (+163.37) increase to 30,267.18 from 30,103.81 the previous trading day. Market Capitalization appreciated in tandem to N10.10 trillion from N10.04 trillion the prior trading day. The BGL 50 Index also followed suit with a 0.61% increase to close at 128.24 from 127.46 the previous trading day, while its market capitalization stood at N9.28 trillion from N9.22 trillion the previous trading day.

The Street Journal reports that a total number of 26 stocks gained on the bourse today while 21 stocks declined, leaving 60 stocks unchanged. On the gainers’ chart, Red Star Express Plc led with a gain of 5.83% to close at N3.81 per share. It was followed Academy Press Plc. with a gain of 4.95% to close at N1.06 per share. Others on the gainers chart include; Nigerian Aviation Handling Company Plc. Ikeja Hotel Plc. and Diamond Bank Plc. On the decliners’ list, UACN Plc. led with a loss of 4.98% to close at N38.36 per share. It was followed N.E.M Insurance Co (Nig) Plc. with a loss of 4.84% to close at N0.59 per share. Others on the decliners’ list are; Airline Services And Logistics Plc. Glaxo Smithkline Consumer Nig. Plc. and Continental Reinsurance Plc.
Oscar Onyema CEO, NSE 2
Nigerian Aviation Handling Company Plc. emerged the toast of investors as it topped the BGL 50 Index gainers’ list with a gain of 4.87% to close at N4.52 per share. It was followed Diamond Bank Plc. with a gain of 4.36% to close at N4.07 per share. Others on the gainers chart include; Dangote Sugar Refinery Plc. FCMB Group Plc. and Skye Bank Plc. On the decliners’ list, UACN Plc. led with a loss of 4.98% to close at N38.36 per share. It was followed Glaxo Smithkline Consumer Nig. Plc. with a loss of 4.76% to close at N40.00 per share. Others on the decliners’ list are; Continental Reinsurance Plc. Sterling Bank Plc. and Flour Mills Nig. Plc.

Author: News Editor

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