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Investors gain N127bn as Index rises by 1.33%

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Equities segment on the Nigerian Stock Exchange (NSE) reversed previous day’s losses to close on a high note today, following the Monetary Policy Committee’s (MPC) decision to maintain all rates even as investors gained N127bn.

The market All-Share Index (ASI) recorded a gain of 1.33 per cent or 370 basis points to close at 28,209.93 basis points, in contrast to 27,839.93 basis points the equities market opened today.

Investors likewise gained N127.1 billion as the market capitalization closed at N9.690 trillion compared to a loss of N6.4 billion recorded on Monday when the market capitalisation closed at N9.563 trillion.

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) today retained interest rate at 14 per cent and maintaining existing Cash Reserve Ratios (CRR) for commercial banks at 22.5 per cent.

Trading activities showed investors’ sentiment remained positive as market breadth closed with 15 gainers to 14 losers.

Conoil Plc remained the toast of investors as it proceeded to top the day’s 15 advancing stocks for the sixth consecutive trading sessions with 10.23 per cent appreciation or N3.59 to close at N38.69 per share. Oando Plc followed with an appreciation of 4.91 per cent or 25 kobo to close at N5.34 per share, NEM Plc added 4.88 per cent or 4 kobo to close at 86 kobo per share, Nigerian Aviation Handling Company Plc (NAHCO) added  4.50 percent or 15 kobo to close at N3.48 per share and Unity Bank Plc increased by 4.11 per cent or 3 kobo to close at 76 kobo per share.

Conversely, AIICO Insurance Plc led the day’s14 declining stocks with a loss of 4.84 per cent or 3 kobo to close at 59 kobo per share, UACN Plc lost 3.58 per cent or 78 kobo to close at N21 per share, Wema Bank Plc depreciated 3.13 percent or 2 kobo to close at 62 kobo per share, Skye Bank Plc recorded a depreciation of 1.52 per cent or 1 kobo to close at 65 kobo per share and Unilever Plc dropped 1.11 per cent or 51 kobo to close at N45.50 per share.

The top three traded stocks were: FCMB Plc with of 51.6 million shares worth N51.6 million. WAPIC Insurance Plc came second trading 24 million  shares amounting to N12 million while Access Bank Plc exchanged 21.3 million shares worth N119 million. Market activity as measured by volume and value traded settled at N231.5 million units and N2.5 billion respectively.

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