NIGERIAN equities traded on a tit-for-tat trend yesterday with equal number of advancers and decliners, but gains by large-cap stocks added N17 billion in net capital gains to market capitalisation.
Benchmark indices at the Nigerian Stock Exchange (NSE) indicated average gain of 0.10 per cent yesterday, equivalent to net capital gains of N17 billion. Average year-to-date return improved to 29.7 per cent.
The All Share Index (ASI)- the value-based common index that tracks all share prices at the NSE, rose from its opening index of 34,769.00 points to close at 34,803.00 points. Aggregate market value of all quoted equities also increased from its opening value of N18.167 trillion to close at N18.184 trillion.
With 21 gainers and losers each, most sectoral indices rode on the back of gains by mid and large-cap stocks to close positive. The NSE Oil & Gas Index rose by 2.8 per cent. The NSE Insurance Index appreciated by 1.0 per cent. The NSE Consumer Goods Index inched up 0.6 per cent while the NSE Banking Index and NSE Industrial Goods Index closed flat.
11 Plc, formerly Mobil Oil Nigeria, led the gainers with a gain of N18.80 to close at N208.80. Guinness Nigeria followed with a gain of N1.30 to close at N19.30 while Guaranty Trust Bank added 90 kobo to close at N35.40 per share.
On the negative side, Dangote Sugar Refinery recorded the highest loss of 65 kobo to close at N20. Africa Prudential followed with a drop of 36 kobo to close at N5.89 while Union Bank of Nigeria lost 30 kobo to close at N5.50 per share.
The momentum of activities however slowed down considerably as turnover dropped by 40.8 per cent to 257.56 million shares valued at N3.53 billion in 5,407 deals. Zenith Bank was the most active stock with a turnover of 40.57 million shares worth N999.27 million.
