NSE daily report: 4 days of gain out of 4, Investors gain N325.27 billion

The Nigerian Stock Exchange (NSE) equities market continued its positive run in the week, making it the fourth day of gains out of four days of trading. The NSE All-Share Index gained 1.54% to close at 40,963.14 points.

Investors gained N325,277 billion, as the market capitalization appreciated by 1.54% rising to N21.418 trillion.

The rampaging Insurance stocks even went a step further than they did on Wednesday. The Insurance Index rose by 5.32% (Wednesday: 4.12%) with 9 insurance stocks gaining more than 6% at the end of the trading session.

Our Highflyers recorded maximum or near maximum gains; JAPAULGOLD recorded a maximum gain of +9.45%, ARDOVA recorded near maximum gain of +9.25%, MBENEFIT recorded maximum gains of +8.33%, REGALINS recorded maximum gains of 7.14% and ROYALEX recorded maximum gains of 6.90%.

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2 days ago, news started emerging in the local media that Heineken BV may launch a takeover bid for Champion Breweries Plc.  The company’s share price has risen from N0.86 to N1.23 in less than a week, we will be adding it to our Highflyers tracker. CHAMPION shares gained the maximum 9.82% at the end of the day’s trading.

Activity level

809.362 million shares worth N8.905 billion was traded in 6,706 deals. The activity level improved, as the volume of shares traded increased by 72.89% while the value of shares traded increased by 27.89%.

TRANSCORP shares were the most traded by volume, with 136.578 million shares worth N130.187 million traded on Thursday. MBENEFIT and GUARANTY were the second and third most traded stocks by volume, with 70.590 million and 68.993 million shares respectively.

GUARANTY shares were the most traded by value, with shares worth N2.251 billion exchanging hands in 624 deals. WAPCO and ZENITHBANK were the second and third most traded stocks by value, with shares worth N1.423 billion and N1.126 billion exchanging hands in 355 and 464 deals respectively.

Performance of Indices

All five indices under our watch advanced on Thursday, just as they all did on Wednesday.

1. Insurance Index advanced by 5.32% as multiple stocks recorded maximum gains, amongst them are MANSARD (+9.4%), WAPIC (+8.7%) and AIICO (+1.7%)
2. Oil and Gas Index advanced by 5.15%, on the back of SEPLAT (+8.8%) and ARDOVA (+9.3%)
3. Banking Index advanced by 2.35%, owing to gains in GUARANTY (+1.9%) and ZENITHBANK (+1.9%)
4. Industrial Goods Index advanced by 1.68%, powered by DANGCEM (+3.0%) and WAPCO (+4.0%)
5. Consumer Goods Index advanced by 0.73%, as DANGSUGAR (+3.6%) and NASCON (+9.7%) advanced

Investor Sentiment

Investor Sentiment as measured by market breadth surged to 6.9x from 1.9x, as 48 stocks advanced against 7 decliners.

Top 5 gainers by percentage are;

1. CHAMPION gained 9.82% to close at N1.23
2. NASCON gained 9.72% to close at N17.50
3. JAPAULGOLD gained 9.45% to close at N1.39
4. MANSARD gained 9.42% to close at N1.51
5. ARDOVA gained 9.25% to close at N21.85

Top 5 losers by percentage are;

1. COURTVILLE lost 8.33% to close at N0.22
2. NEIMETH lost 6.36% to close at N2.06
3. UNIONDAC lost 3.12% to close at N0.31
4. JAIZBANK lost 2.78% to close at N0.70
5. JOHNHOLT lost 1.96% to close at N0.50

By; Nnamdi M