Nigeria bourse continues positive run as GTB, Guinness, Unilever stocks appreciate

Charles Abuede

Market activities on the floor of the Nigeria Stock Exchange continued its positive run for the third successive week opening as investors profited N3.8 billion at the start of trading Monday with high anticipation of more profit-taking deals in the trading sessions ahead.

The All-Share Index rose three basis points, due to price appreciation in Guaranty Trust Bank (GUARANTY) which rose 0.4 percent; Guinness Nigeria (GUINNESS), up 1.3 percent; and Unilever Nigeria (UNILEVER), which rose 7.5 percent, to close at 25,229.12 points.

As a result, market capitalisation appreciated to N13.2 trillion with investors gaining N3.8 billion while the year to date loss eased to -6.0 per cent.

There was an improved level in the trading activities as volume and value traded increased 58.4 per cent and 34.6 per cent to 251.2 million units and N2.4 billion respectively.

The most active stocks by volume were Transcorp Plc (TRANSCORP), which saw 75.1 million units of its shares change hands; Zenith Bank (ZENITH) traded 45.6 million units; and Guaranty Trust Bank (GUARANTY) with 12.9 million units changing hands. On the other hand, Zenith Bank with N767.6 million; Presco with N588.2 million; and Guaranty Trust Bank with N325.2 million led the table in terms of the value of their stocks traded. 

Sectorial analysis shows there was mixed performance across sectors as two indices recorded gains, two recorded losses, while two stayed flat. The Consumer Goods and Insurance indices closed positive, up 70 basis points and 82 basis points respectively, owing to price upticks in UNILEVER  at +7.5 percent, and CORNERSTONE  at +8.6 percent.

Conversely, losses in WAPCO at –1.2 percent and UBA, at -1.5 percent dragged the Industrial Goods and Banking indices by 10 basis points and one basis point, respectively. However, the AFR-ICT and Oil & Gas indices closed the session flat.

Meanwhile, investor sentiment as measured by market breadth (advance/decline ratio) fell to 1.0x from the 1.7x recorded previously as 15 stocks gained against the 15 that declined. The top gainers were UPL at +9.7 percent; UNITYBNK at +9.6 percent; and REGALINS at +9.1 percent, while TRANSCORP at -8.2 percent, ROYALEX at -7.7 percent; and JAIZBANK at -5.0 percent lost the most.