Nigerian Bourse on Tuesday closed in green for the third consecutive trading days, as the All Share Index rose by 0.31% to close at 24,841.94, due to gains in the share prices of UACN, Mansard, Jaizbank, Zenith, Seplat, Flourmill, MTNN among others.
Investors gained N39.552 billion on Tuesday, with the market capitalization rising to N12.959 trillion, despite the heavy losses suffered by Cap (-9.94%), Total (-9.91%), Ardova (-9.67%), Unilever (-8.57%) and Glaxosmith (-8.49%). as investors offload the shares. It is important to note that these five companies which graced the top decliners table, suffered significant drop in the H1 2020 profits reported.
Total of 154,467,244 units of shares worth N1,457,531,880.26 exchanged hands on Tuesday in 4,222 deals.
The activity chart in volume was led by the shares of Transcorp, with 13,543,976 units of stocks valued at N8,078,600.75 exchanged in 84 deals. In terms of value, NB took the lead with 8,871,692 units of shares worth N283,820,516.30 traded in 51 deals.
Have you read?
- CAP Plc reports 30% decline in Profit after Tax for H1 2020, 59% decline in Q2
- Ardova Plc profit after tax dips by 81% in H1 2020 despite rise in revenue
Four indices under our watch appreciated while only one declined on Tuesday. The Insurance Index rose by 2.70% to settle at 122.69 after suffering a decline on Monday, driven by gains in Mansard, Aiico, Mbenefit, Lasaco.
The Banking Index rose by 1.58% to close at 284.96 driven by gains in Zenith, Guaranty, ETI among others,
The Oil and Gas Index grew by 0.23% to close at 170.74 as gains in Seplat and Oando outweighed the losses recorded by Total and Ardova.
The Consumer Index increased by 0.07% to close at 403.26 while the Industrial Index declined by 0.03% to close at 1,155.27.
Investor sentiment was strong at 2.3x on Tuesday as 23 stocks advanced in prices while 10 declined on Tuesday.
Top five gainers by percentage with the closing prices are; Mansard (9.72%; N1.58), UACN (8.73%; N6.85), Jaizbank (7.27%; N0.59), NPFMCRFBK (5.88%; N1.26) and Mbenefit (4.76%; N0.22).
Top five decliners by percentage are; Cap (-9.94%; N15.40), Total (-9.91%; N79.10), Ardova (-9.67%; N12.15), Unilever (-8.57%; N11.20), and Glaxosmith (8.49%; N4.85).
Read more; May & Baker reports 151.91% growth in profits, N396.088 million in Q2 2020
Despite the positive rally, analysts’ view at Investogist; We still maintain our negative outlook to the market in the short and medium term.
Written by;
Ifunanya Ikueze
