NSE records N24bn profit -- first gain in December

NSE records N24bn profit — first gain in December

December 11

19:01 2019

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The Nigerian Stock Exchange (NSE) recorded the first gain in December on Wednesday with the crucial market indices appreciating by 0.19%.

Specifically, the all-share index increased by 49.79 points or 0.19%t to close at 26,434.00 compared with 26,384.21 posted on Tuesday.

Also, the market capitalisation which opened at N12.734 trillion rose by N24 billion or 0.19 per cent to close at N12.758 trillion.

Consequently, the month-to-date and year-to-date losses moderated to -2.10% and to -15.90% respectively.

Market analysts attributed the rebound to renewed bargain hunting activities in high capitalised equities.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria, CI Leasing, Flour Mills of Nigeria, United Bank for Africa and UACN.

Market breadth closed negative with 12 gainers and 14 decliners.

C & I Leasing led the gainers’ chart in percentage terms, with a gain of 9.26% to close at N5.90 per share.

Courteville followed with a gain 8.70% to close at 25k, while Oando grew by 4.17% to close at N3.75 per share.

UBA went up by 3.85% to close at N6.75, while UACN appreciated by 3.11% to close at N8.30 per share.

Conversely, Chellarams led the losers’ chart by 9.74% to close at N2.78 per share.

Union Diagnostic & Clinical Services followed with a decline of 8.33% to close at 22k, while Chams went down by 8.11% to close at 34k per share.

Linkage Assurance dipped 5.88% to close at 48k, while Lasaco Assurance shed 3.85% to close at 25k per share.

However, the total volume of shares traded closed lower as investors bought and sold 180.228 million shares worth N3.03 billion transacted in 2,951 deals.

This was in contrast with a turnover of 196.29 million shares valued at N3.55 billion achieved in 3,154 deals on Tuesday.

Transactions in the shares of UBA topped the activity chart with 29.33 million shares valued at N192.72 million.

Zenith Bank came second with 19.85 million shares worth N366.31 million, while Guinness Nigeria traded 15.64 million shares valued at N460.63 million.

Guaranty Trust Bank accounted for 13.32 million shares worth N373.01 million, while Access Bank transacted 12.98 million shares valued at N119.44 million.