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NSE ASI 0.12 % gains, sustains 8th consecutive bullish run

The Nigerian Stock Exchange (NSE) opened the week bullish, with a +0.12 per cent gained by the All- Share Index, sustaining the bullish run that has seen the index close positive for the eighth consecutive trading session.

While the ASI closed at 33,301.43pts, market capitalization berth at N11.48bn. YTD performance of the ASI is currently +23.91%.

Sectoral performance was evenly mixed as the Consumer Goods gained +1.29 per cent and Industrial added 0.03 per cent, just as the Oil & Gas declined by -0.51per cent and Banking recorded -0.46 per cent loss in sectoral performance.

Nigerian equities continued with delivering positive returns to investors as it began the week with a gain of N13.7 billion in the NSE Market Capitalisation. The market capitalization thus settled at N11.477 trillion from its opening figure of N11.464 trillion. Similarly, The All Share Index (ASI) started the week with an increase of 39.77 basis points or 0.12 per cent, spurred by lingering optimism in the market which encouraged investors to actively take position ahead of Q2 earnings, to settle at 33,301.43 points, expanding YTD return to 23 percent.

Price movement table showed 23 gainers against 26 losers. Unilever topped gainers with a 10.24 appreciation to close at N36.38, Forte Oil followed with a gain of 7.71 per cent to close at N60.50, 7up was next with an appreciation of 6.41 per cent to close at N94.95 per share. Champion Breweries also grew by 6 per cent to close at N2.65 and Flour Mill appreciated 5 per cent to close at N26.25 per share.

Top on the day’s losers list was Oando, with a decline of 9.54 per cent to close at N6.83, Oando is topping the losers chart for the second trading session in a row amidst The Securities and Exchange’s Commission’s (SEC’s) investigation of a petition laid by two of Oando’s shareholders on Friday.

Nascon Allied Industries came next on the losers chart with a drop of 4.95 per cent to close at N9.03. AIICO recorded a loss of 4.92 per cent to close at 58 kobo per share, Skye Bank declined by 4.92 per cent to close at 58 kobo while BOC Gases depreciated 4.78 per cent to close at N2.99.

Niger Insurance topped activity chart with the trade of 150.1 million shares worth N75.0m. FBN Holdings exchanged 36 million units at N213.8m, while FCMB sold 14.8 million shares worth approximately N18m. UBA traded 14.2 million shares valued at N125.2m, while Flour Mill exchanged 12.3 million shares worth N320.4m.

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