NSE recovers by hairs-breath, 65% via financial services sector

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After three straight sessions in the decline, the Nigerian equities market rebounded, grew by 0.16 positive on Thursday.

The Nigerian Equities market grew in the day due to growth in the prices of stocks of financial services providers, arguably the most liquid sector. The industry got investors’ attention thereby amassing 65 percent of all the stocks that grew in price.

The global recognition which six Nigerian banks got from The Banker, world recognized publication earlier in the week as-well-as the Etisalat $1.2 billion loan terms of payment renegotiation with the 13 banks inspired investors to consider bank stocks.

However, quite a number of investors were on the sideline in the day which took a toll on the number of transactions struck as 3,536 deals was recorded which is 18 percent lower than previous session’s record and 168 million stocks were traded which is 46 percent lower than previous session’s record were recorded in the day.

The Nigeria Stock Exchange All Share Index (NSEASI) and Market Capitalization (MKT CAP) grew by 0.16 percent having grown by 52.46points and ₦18 billion respectively in the day.

The main market indexes closed mixed as total deals declined by 18 percent to close at 3,536, Aggregate volume turnover declined by 45.88 percent to close at 168 million and aggregate value turnover grew by 21.93 percent to close at N3.627 billion.

The market measured by market breadth was also ill as the number of stocks that declined in prices, 23, out-numbered the stocks that grew in prices, 20.

Penny stocks dominated the day’s trading as highly capitalized stocks like 7UP, SEPLAT and DANGCEM grew, NB, GUINNESS and NESTLE declined while TOTAL and MOBIL retained their prices.

The Nigeria Stock Exchange’ All Share Index (NSEASI) and Market Capitalization (MKT CAP) closed positive, keeping the Year-to-Date at 20.20%.

Market Snapshot

The Nigerian Stock Exchange’ All Share Index (NSEASI) for Thursday July 6, 2017 closed at 32,354.78 which is 0.166% higher than the previous session’s 32,302.32.

Market Capitalization closed at ₦11.151 trillion against previous session of ₦11.133 trillion, representing 0.16 % increase.

3,536 deals recorded in the day represent a decrease of 18% against previous session’s 4,312 deals.

The 168.512 million units of equities traded for the day was 45.88% less than the previous session’s 311.381 million units.

Value of equities traded for the day increased by 21.93% more than previous session’s ₦2.975 billion to ₦3.627 billion which was recorded for the day.

Gainers for the day (20)

OANDO, MANSARD and 7UP led other seventeen percentage price gainers for the day.

Losers for the day (23)

MAYBAKER, UACN and FIDSON led other twenty percentage price losers for the day.

Ten Best Stocks:

STERLNBANK, FBNH and TRANSCORP recorded the most deals of the day.

GUARANTY, TRANSCORP and FBHN recorded the most volume in the day.

GUARANTY, DANGCEM and NB recorded the most value in the day.

Other Indexes:

The Financial Services industry was the most active industry for the day with 250.527 million shares exchanged for ₦1,852 billion Thursday.

Conglomerates industry was next with 31.294 million share traded for ₦0.047 billion.

Consumer Goods industry, Oil and Gas industry and ICT Industry followed respectively.

MARKET Breadth:

Market breadth closed negative as with 12 gainers against 33 losers.

The Nigeria Stock Exchange Market data for Thursday 6rd July 2017:

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