LAGOS, JULY 28, 2017 – Investors on the Nigerian Stock Exchange (NSE) on Thursday continued to react positively to half year earnings season resulting in further growth in market indicators.
The News Agency of Nigeria (NAN) reports that the All-Share Index crossed the 37,000 mark to close at 37,245.17 as against 36,740. 77 recorded on Wednesday, due to gains by some blue chip.
The index inched 504.40 points or 1.37 per cent.
Similarly, the market capitalisation which opened at N12.662 trillion, rose by N174 billion or 1.37 per cent to close at N12.836 trillion.
Market analsysts atrributed the hike to investors response to positive half year earnings season.
They said that the market would likely achieve the position recorded in 2014 going by the earnings released so far.
They, however, said that investors should be careful to avoid any form of greed, especially in equities that had returned cash dividends.
Nestle led the gainers’ table during the day, gaining N45.50 to close at N955.50 per share.
Nigerian Breweries followed with a gain of N7.87 to close at N173.77, while Okomu Oil increased by N3.54 to close at N74.41 per share.
Conoil appreciated by N3.36 to close at N36.40 and Betaglass grew by N2.87 to close at N60.34 per share.
On the other hand, Cadbury recorded the highest loss for the day, dropping by N1.20 to close at N11.20 per share.
Lafarge Africa trailed with a loss of N1.01 to close at N60 and Oando declined by 40k to close at N8 per share.
UACN shed 30k to close at N16.70 and Access Bank depreciated by 25k to close at N10.30 per share.
Also, the volume of shares traded rose by 61.87 per cent as investors bought and sold 542.80 million shares valued at N8.01 billion transacted in 5,939 deals.
This was against the 335.34 million shares worth N4.64 billion achieved in 5,385 deals on Wednesday.
United Bank for Africa (UBA) for the third consecutive day remained the most traded in volume terms, accounting for 117.27 million shares worth N1.19 billion.
Zenith International Bank traded 63.04 million shares valued at N1.61 billion and Diamond Bank exchanged 52.16 million shares worth N66.64 million.
FBN Holdings transacted 51.54 million shares valued at N308.24 million, while FCMB Group traded 30.82 million shares worth N40.07 million.