• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      CBN says cryptocurrency ban in interest of Nigerians

      February 25, 2021

      Companies-in-Action

      Zenith Bank in strong operational performance as profit rises 10.4% to N230.56bn in FY20

      February 25, 2021

      Companies

      United Capital posts strong numbers as earnings rise 50% to N12.87bn in 2020

      February 23, 2021

      Finance

      CIBN revives mentorship initiative for bank workers

      February 20, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Insurance Business

      Enterprise risk management surges amid pandemic, RIMS reports

      February 25, 2021

      WORLD BUSINESS & ECONOMY

      Hyundai to recall 82,000 electric cars over battery malfunction

      February 25, 2021

      Frontpage

      Global health insurance premiums fall amid pandemic, says new report

      February 24, 2021

      Frontpage

      Insurance M&A record highest growth in Africa, Middle East in 2020

      February 23, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      REA delivers 100kW hybrid solar mini grid to Edo community

      February 25, 2021

      Oil and Gas

      OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement

      February 25, 2021

      Frontpage

      Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention

      February 25, 2021

      Frontpage

      Nigeria to sell 170MW electricity capacity to Togo from Calabar plant

      February 24, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      The bull run still has legs despite inflation concerns

      6 hrs

      Analyst Insight

      Incorporating three lines of defence in data privacy schemes

      6 hrs

      Analyst Insight

      Coronation MB analysts project sharp rates rise after Nigeria recession exit

      February 25, 2021

      Analyst Insight

      How NITDA can further foster data protection compliance in Nigeria

      February 22, 2021

Frontpage

Nigerian stocks rebound as uptick in Guaranty, Unilever, Stanbic lifts NSEASI 0.33%

March 8, 2018876 views0 comments

The Nigerian equities market reversed previous negative performance Thursday as benchmark index, the NSEASI, closed 33bps higher to settle at 43,092.63 points.

Market year-to-date (YTD) return increased to 12.7 percent, while market capitalization gained N50.2bn rising to N15.4 trillion.

The positive performance today can be attributed to upticks in GUARANTY (+2.9%), UNILEVER (+7.5%) and STANBIC (+5.0%), which offset losses in DANGCEM (-1.1%).

However, activity level weakened as volume and value traded fell 1.6 percent and 37.2 percent to 266.0 million units and N3.2 billion respectively. The top traded stocks by volume were CAPOIL (308.8m), JAPAUL OIL (24.0m) and MULTIVERSE (17.5m) while ZENITH (N506.2m), GUARANTY (N499.2m) and DANGCEM (N485.8m) were the top trades by value.

Read Also:

  • Unilever Nigeria to complete tea business separation by end of 2021
  • Nigeria bourse in red as selloffs in banking, consumer goods stocks see…
  • Positive buying sentiments in large-cap stocks drive up market cap,…
  • Lions’ Den 2021: An opportunity for promising Nigerian entrepreneurs
  • Nigerian stock-fish dealers want access to foreign exchange

Performance across sectors was mixed as two of five indices closed in the green while three trended southwards.

The consumer goods index advanced the most, inching 0.9 percent higher following gains in UNILEVER (+7.5%) and NIGERIAN BREWERIES (+0.7%) while the banking index (+0.7%) was buoyed by price appreciation in GUARANTY (+2.9%) and ACCESS (+0.8%).

On the flipside, the Insurance index led laggards, down 0.9 percent as profit taking in MANSARD (-4.4%) and NEM (-3.6%) weighed on performance. Similarly, losses in DANGCEM (-1.1%) pulled the industrial goods index 0.5 percent lower while the oil & gas index shed 3bps due to losses in FORTE (-0.2%).

Investor sentiment as measured by market breadth (advance/decline ratio) remained flat at 1.1x consequent on 30 stocks advancing against 28 decliners.

The top performing stocks were JAPAUL OIL (+9.9%), WAPIC (+8.6%) and UNILEVER (+7.5%) while the worst performing were CILEASING (-9.3%), REGALINS (-7.5%) and JAIZBANK (-5.0%).

“We expect this positive performance to be sustained till the end of the week as investors continue to seek bargain opportunities in the market,” analysts at Afrinvest noted.

Share on Facebook Tweet Email
TagsGUARANTY Nigerian stocks Stanbic Stanbic IBTC Unilever
PreviousBoI disbursed N20.5bn to 346 female entrepreneurs in 2017
NextNigeria’s 9mobile excites new subscribers with 4-in-1 bonus offer

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Social Media Helps Global “Dream Teams” Come Together
  • What’s Next for Jeff Bezos and Amazon?
  • What Makes Some Ads More Shareable Than Others?
  • Sincere commitment to reduce corruption in Nigeria
  • FGN: A confused investor in the oil industry

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

Unpaid N18bn debt: contractors occupy finance ministry

Frontpage September 1, 2020

1
2

Oil rises to $61 on trade hopes; U.S. inventories eyed

Frontpage September 5, 2019

3

Solution to poor electricity beyond recapitalisation of Discos, says electricity group

Electricity January 16, 2020

4

Currency traders look to UK growth data release in hope for pound rebound

Frontpage August 6, 2018

5

Nigeria’s Zenith Bank grows profit by 12% to N144bn with an EPS growth of 16%

Frontpage October 18, 2018

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.