By Omobayo Azeez
- As MTN, Zenith, GTB lead in N6.79bn stock deals
Investors have recouped a sum N54 billion on equities investment in the last two trading sessions, departing from the N84 billion loss earlier recorded in the two previous sessions on Monday and Tuesday.
With midweek trading closing positive with N32 billion gain on Wednesday and a sustained uptrend with N22 billion on Thursday, the market reversed partially the N16 billion and N68 billion losses it shed earlier on Monday and Tuesday this week respectively.
Although, the domestic equities market was on the verge of a decline on Thursday, it rebounded following late investors’ interest in Nigerian Breweries and SEPLAT which swung the benchmark index into the positive terrain.
Consequently, the index appreciated by 0.17 per cent to add 44.58 points and close at 26,355.35 basis points, thereby moderating the Month-to-Date and Year-to-Date losses to 4.62 per cent and 16.15 per cent respectively. Similarly, market capitalization appreciated to N12.830 trillion to close the session.
Meanwhile, turnover for the session was bullish as volume and value traded skyrocketed 121.81 per cent and 275.3 per cent to 347.797 million shares valued at N6.793 billion respectively.
Value of trade was led by telecommunication giant, MTN Nigeria, trading 21.255 million shares at N2.679 billion in 72 trades. Zenith followed by trading 103.685 million shares worth N1.770 billion in and 541 transactions while GUARANTY sold a total of 39.183 million shares worth N980.525 million that exchanged hands in 250 deals.
The session also closed in favour of the bulls as 18 gainers emerged against 13 decliners at the end of the trade while five others closed on unchanged prices.
SEPLAT led gainers with N48 to close at N565 per share. Nigerian Breweries followed with N3.75 to close at N50 per share while Dangote Cement, Flourmill and UPL appreciated by N0.40, N0.20 and N0.09 to close at N149.4, N14.20 and N1.30 per share respectively.
The loser were led by MTNN, GUARANTY, OANDO, WAPCO and FBNH shedding N1, N0.60, N0.25, N0.10 and N0.05 to close at N126, N24.90, N3.11, N13.30 and N5.25 per share respectively.
Analysts have opined that the influx of nine month reports by listed companies at the Nigerian Stock Exchange (NSE) has presented an opportunity for the market to take a new turn as investors will cease the moment to take position in the last quarter.
Meanwhile, in the fixed income market, the impact of CBN’s policy continues to take a toll on the Treasury bills secondary market, as trading activities were bullish.
Consequently, average yield contracted by 5bps to 12.69 per cent. Yields contracted across the short (-1bp), mid (-6bps) and long (-7bps) segments, following buying interest in the 56-days, 175-days and 224-days tenor which contracted by 14bps, 39bps and 85bps.