The Nigerian equity market extended the gaining streak with which it ended 2019 to open activities in the new year, 2020, as benchmark index rose by 0.1 per cent.
Despite the average decline of 0.59 per cent for the month of December 2019 and full year return of -14.60 per cent for 2019, pockets of gains were recorded in the last three sessions of the year, a trend that was sustained as the investors further recouped N13 billion on Thursday to commence 2020.
The All-share Index (ASI) which is the benchmark value index trended upward by gaining 25.72 points to close at 26,867.79 basis points from 26,842.07 it closed last session while the valuation of listed stocks on the nation’s bourse closed higher at N12.971 trillion.
The positive mood of the market in the session also reflected on its breadth with positive disparities between 22 gaining stocks which outnumbered 13 declining counterparts, while eight others closed on unchanged prices.
The gainers’ list was topped by telecoms giant, MTN Nigeria which advanced by N4 gain to close at N109 per share while Dangote Sugar and First Bank of Nigeria holdings trailed with N0.40 and N0.35 gains to close N14 and N6.50 respectively. Other gainers are UACN and Vitafoam, gaining N0.30 each to end the session on N8.90and N4.70 per share in that order.
On the flip side, SEPLAT led 12 other decliners with a loss of N65.70 to close at N592.10. WAPCO Plc shed N1.50 to close at N13.80. Unilever, Stanbic and Glaxosmith lost N1.50, N1 and N0.60 to close at N20.70, N40 and N5.50 respectively.
Meanwhile, the turnover for the session was moved mostly by Seplat, trading 4million shares at N2.368 billion; Zenith, with 30.912 million shares valued at N578.181 million and GUARANTY which traded 18.898 million shares worth N553.425 million.
Most active stocks in the session are FBNH which traded 60.265 million shares worth 384.004 million; Access bank Plc with 33.544 million shares at N335.581 million, and Zenith Bank Plc transaction volume and value of 30.911 million shares and N578.181 million respectively.
The session closed with a total of 264.104 million shares valued at N5.231 billion traded by investors in 3,178 deals on the floor of the Nigerian Stock Exchange (NSE).