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Equities Market Rebounds by 0.04% To Commence Trading In May

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The Nigerian equities market kicked off the month of May,yesterday on a positive note as the All-Share- Index (ASI) gained 0.04 per cent to halt the prior three sessions’ negative performance.

In summary, the NSE All-Share – Index (ASI) gained 11.99 absolute points, representing a growth of 0.04 per cent to close at 29,171.73 points. Similarly, the market capitalisation gained the value of N4 billion to close at N10.963 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Mobil Nigeria, Guinness Nigeria, Nigeria Breweries, Cement Company of Northern Nigeria and Flour Mills Nigeria.

Analysts at Imperial Assets Management, said that “We expect the market to continue sideways movement the rest of the week considering the mixed first quarter, 2019 earnings released so far.”

However, the market breadth closed positive, with 21 gainers versus 26 losers. Transnational Corporation of Nigeria (Transcorp) recorded the highest price gain of 9.91 per cent, to close at N1.22, per share. Japaul Oil & Maritime Services followed with a gain of 9.09 per cent to close at 36 kobo, while FCMB Groups appreciated  by 5.95 per cent, to close at N1.96, per share.

Mobil Nigeria went up by 5.08 percent, to close at N186, while Mutual Benefits Assurance rose by 4.76 per cent to close at 22 kobo,  per share.  On the other hand, Afromedia led the losers’ chart by 10 per cent, to close at 45 kobo, per share. Academy Press followed with a decline of 9.09 per cent to close at 30 kobo, while Law Union and Rock Insurance shed eight per cent to close at 46 kobo, per share.

Royal Exchange declined by 7.69 percent, to close at 24 kobo and Presco declined by 7.59 per cent to close at N58, per share.

The total volume traded depreciated by 48.59 per cent to 279.62 million shares, worth N2.82 billion, and traded in 4,836 deals. Transactions in the shares of Transcorp topped the activity chart with 34.91 million shares valued at N42.51 million. Dangote Flour Mills  followed with 23.64 million shares worth N450.08 million, while Chams traded 20.73 million shares valued at N10.71 million.

Access Bank traded 19.67 million shares valued at N135.58 million, while Japaul Oil sold 17.07 million shares worth N6.11 million.

 

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