Nigerian Equity Markets | 05 Oct 2015: Nigerian Equities in Red, All Share index 0.6% lower

Lagos, Nigeria, Capital Markets in Africa — The Nigerian All Share Index (ASI) dipped 0.6 percent on the first trading day of the week to 30,405.88 points as a result of drags the equity market capitalization to NGN 10.45 trillion relative to NGN 10.51 recorded at the previous trading session, hence a lose of NGN 60 billion.

Furthermore, NSE 30 index ended at 1,388.83 levels after gaining 0.45 percent, NSE Premium added 1.20 percent to settle at 1,643.92 points and NSE MAIN BOARD index surged by 0.28 percent at 1,451.64. In term of sector performance, financial services stocks were mostly hit as the NSE Banking Index and the NSE Insurance Index fell by 0.11 percent and 0.63 percent respectively while value of industrial equities depreciated by 1.11 percent according to the NSE Industrial Index. However, the Oil & Gas sector ended in positive by adding 0.09 percent to close at 2,125.35 points.

In term of market activity, recorded a total turnover of NGN 2.090 trillion from 419,948,920 shares traded in 3,056 deals compared to the previous session which recorded a turnover of NGN 3.127 trillion from 274,962,145 shares traded in 3,247 deals. The top five most active stocks by volume were Mutual Benefits Insurance recorded 200,000,000 shares at NGN 100 million; Unity Bank of Nigeria had 44,163,043 shares at NGN 57.782 million, United Bank for Africa recorded 34,406,039 stocks at NGN149.563 million, Zenith Bank Nigeria traded 26,881,102 stocks at turnover of NGN 444.525 million and Access Bank Plc recorded 22,670,404 stocks at NGN 119.038 million turnover.

Looking at gainers and losers, petroleum products marketing company, Mobil Nigeria, advanced by 2.41 percent to close at NGN 148.50 per share while personal care and home care products manufacturer, Unilever Nigeria, rose by 2.08 percent to close at NGN 46.07 per share. Also, commercial banking majors, Zenith Bank and UBA, increased by 1.46 percent and 4.01 percent to close at NGN 16.70 and NGN 4.41 respectively. On the loser side, leading cement producer, Dangote Cement, dipped by 1.75 percent to close at NGN 168.01 per share while alcoholic beverages brewer, Guinness Nigeria, slid by 0.82 percent to close at NGN 150.75 per share.