Wednesday, April 2, 2025
26.9 C
Lagos

Stock Market Statistics: Thursday, 2nd February, 2017

Market Cap (N’bn)                8,938.5
Market Cap (US$’bn)                     29.3
NSE All-Share Index             25,936.24
Daily Performance %                  0.1
Week Performance            (1.3)
YTD Performance %                     (3.5)
Daily Volume (Million)                  151.5
Daily Value (N’bn)                       1.4
Daily Value (US$’m)                     4.5

 

Bargain Hunting in Banking Stocks Drives Index Higher …NSE ASI up 13bps
The Nigerian equities market bucked a 3-day downtrend as bargain hunting in banking stocks drove the index 13bps northwards to settle at 25,936.24 points.

Performance was driven by gains in STANBIC (+2.9%), UBA (+2.9%), ZENITH (+1.4%) and GUARANTY (+0.6%).

Accordingly, YTD loss eased slightly to -3.5%. Investors in turn gained N11.5bn as market capitalization settled at N9.0tn. However, activity level waned as volume and value traded decreased 50.3% and 12.0% to settle at 151.5m units and N1.4bn respectively.

All Indices Close In the Green Save for Oil & Gas Index
Performance across sector was broadly bullish as all indices closed in the green save for the Oil & Gas index which declined 1.6% as losses in FORTE (-9.7%) and SEPLAT (-3bps) more than offset gains in OANDO (+4.8%), while the Industrial Goods index closed flat. The Banking index gained the most, up 0.9% on account of buying interest in UBA (+2.9%) and ZENITH (+1.4%). Likewise, the Insurance and Consumer Goods indices closed 0.6% and 2bps higher consequent on gains in CONTINSURE (+4.7%), AIICO (+1.7%), GUINNESS (+4.2%) and UNILEVER (+0.8%).

Investor Sentiment Improves
Investor sentiment also improved as market breadth (advancers/decliners’ ratio) rose to 1.2x (from 0.3x yesterday) consequent on 20 stocks which advanced against 17 decliners. The top gainers were UNITYBANK (+5.0), OANDO (+4.8%) and CONTINSURE (+4.7%) while FORTE (-9.7%), UACPROP (-9.4%) and TRANSCORP (-5.0%) were the top losers. Today’s market performance was largely attributable to bargain hunters’ interest in banking stocks. We expect market to close positive tomorrow considering the cheap valuation of stocks that had declined in prior trading sessions this week. However, we expect market to close the week lower.

spot_img
spot_img
spot_img

Hot this week

Tinubu Signs Investments and Securities Bill 2025 into Law

In a major boost to capital market regulation in...

NDIC Slates April 2025 for Liquidation Dividends to Heritage Bank Depositors

In response to concerns raised by depositors of the...

Bayo Adeyinka Secures Freedom for 8 Inmates, Donates Medical Supplies to Mark 50th Birthday

Fourth from left, Deputy Controller of Corrections (DCC) in...

Fidelity Bank Records 210.0% Growth in PBT to N385.2bn in 2024

Leading financial institution, Fidelity Bank Plc released its 2024...

Veritas Kapital Assurance Champions Health Awareness Walk for Prostate, Breast Cancer, Erectile Dysfunction

Veritas Kapital Assurance Plc, in collaboration with Waka Community...

Topics

NCDMB, NLNG, Shell, Others for 11th Practical Nigerian Content Forum Dec 5

  Deepening Nigerian Content Opportunities in the Decade of...

Ease of Doing Business Report: 15 Years of Reforms to Improve Business Climate Worldwide

WHAT IS "DOING BUSINESS"? Doing Business is a project that provides...

Stock Market Statistics: Tuesday, 17th January, 2017

Market Cap (N'bn)              ...

Nokia Plans More Job Cuts over Alcatel Acquisition

Nokia has announced sweeping job losses as the consequence...

CHI Renews N24m Group Accident Insurance Cover for Journalists

Consolidated Hallmark Insurance Plc has again renewed its Group...

Will Buhari Reverse Power Sector Privatisation?

Labour Supports Reversal, Alleges Irregularities, Fraud, Worsening Power Situation The in-coming administration of President-elect, Mohammadu Buhari is under intense pressure to reverse the privatisation of power assets in the country initiated under the out-going Goodluck Jonathan government. Another initiative is to increase Federal Government equity in the already privatised power assets from 49 to 59 percent in order to have control in the running of such power assets across the country.

Africa Offshore Oil Development Attracts U.S. Grant

The United States and Nigeria are teaming up to...
spot_img

Related Articles

Popular Categories

spot_imgspot_img