Increased bargain in stocks like Dangote Cement Plc, UBA Plc and that of FBN Holdings helped the equities market to close in green on October 23. The value of listed stocks advanced by N15billion as 7 stocks gained as against 11 losers. The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.12percent, while the Year-to-Date (YtD) return stood at -16.01percent.
The All Share Index closed at 26,397.94 points as against the preceding day’s close of 26,365.83points while Market Capitalisation closed at N12.850 trillion against preceding day close of N12.835 trillion.
Dangote Cement Plc rallied most from N143.9 to N146.2, adding N2.3 or 1.60percent, UBA Plc advanced from N5.7 to N5.85, adding 15kobo or 2.63percent, while FBN Holdings Plc moved from N5.3 to N5.4, adding 10kobo or 1.89percent.
On the losers table, Lafarge Africa Plc dipped most from N15.15 to N14.7, losing 45kobo or 2.97percent, Access Bank Plc followed after its share price declined from N7.35 to N7.1, losing 25kobo or 3.40percent, while Zenith Bank Plc was down from N17.25 to N17, losing 25kobo or 1.45percent.
Market watchers noted that though the equities market closed north, due to late rise in the second most capitalised stock Dangote Cement, other indicators came in weaker in Wednesday session.
With all sectors closing under except for the consumer goods sector, market breadth returning negative and less market activity, analysts expect a pressured trading session on Thursday despite the possibility of bargain hunting.
The volume of stocks traded decreased by 58.08percent from 694.02 million to 290.93 million, while the total value of stocks traded decreased by 64.49percent, from N7.82 billion to N2.77 billion in 2,668 deals.
The Financial Services sector led the activity chart with 109.38 million shares exchanged for N1.189 billion; followed by Construction/Real Estate with 30.409 million shares traded for N34 million.
Iheanyi Nwachukwu
