Bulls regain vigour despite mixed Q3 results
The benchmark index of equities ended Thursday trading at the Nigerian Stock Exchange on green closing with a gain of 67bps despite mixed third quarter from quoted firms
The market achieved this trading despite from a loss of 38bps in the previous day's trading, bringing the YtD returns to 33.90%.
Specifically, the All Share Index rose 0.67 per cent to close at 37,622.74 points, as against the depreciation of 0.38 per cent recorded the preceding day to close at 37,373.09 points.
Market capitalization gained N79bn to close at N12.020trn, in contrast to N45bn loss recorded the preceding day to close at N11.941trn.
Volume and value traded went in opposite directions as volume declined by 33.5% while value traded increased by 13.35%. The market mood was positive as market breadth(1.24) saw 31stocks gaining against 25stocks losing.
NSE30, NSEBNK10 and ASEBT10 recorded gains in the sectoral indices returning 0.83%, 1.13%, and 1.84% respectively. NSEOILG5 continued its negative mood as it lost 1.60%. NSEINS10 also lost 0.71% after recording a significant gain yesterday.
The first position on the gainers’ list was occupied by GUINESS (5%), while EVANSMED (4.97%) and NESTLE (4.66%) occupied the second and third positions respectively. CONOIL (4.98%), MRS (4.98%), and AIRSERVICE (4.96%) shed points and led the losers’ list in that order.
As the earnings season continues, more Q3:2013 corporate earnings were released. Companies such as MOBIL (-4.19%, 53.28%), UBA (12.54%, 2.39%), UNION BANK (-3.71%, -35.71%), FLOUR MILLS (22.09%, -23.91%), 7UP (22.71%, 199.67%), DNMEYER (3.58%, -327.53%), UNITY KAPITAL (8.93%, 2.51%), ASHAKA (2.28%, -58.87%), CUSTODIAN (109.34%, 89.57%), and MANSARD (6.55%, 51.12%) posted respective top and bottom line growth as indicated.
The Lotus Islamic Index led sectorial indices with 1.25 per cent to close at 2,668.66 points, followed by the Banking Index with 1.13 per cent to close at 398.60 points.
The Consumer Goods Index appreciated 1.84 per cent to close at 1,088.63 points, while the NSE 30-Index increased 0.83 per cent to close at 1,763.98 points.
The Insurance Index lost 0.71 per cent to close at 136.80 points, while the Oil and Gas Index shed 1.60 per cent to close at 225.07 points.
The Industrila Index declined 0.02 per cent to close at 2,263.98 points, while the Alternative Securities Index dropped 0.35 per cent to close at 958.91 points.
Guinnes Nigeria Plc led the gainers' table with N12.00 or five per cent to close at N252.00 per share, followed by Evans Medical Plc with 16 kobo or 4.97 per cent to close at N3.38 per share.
Nestle Nigeria Plc rose N49.00 or 4.66 per cent to close at N1,100.00 per share, while Fidelity Bank Plc gained 11 kobo or 4.33 per cent to close at N2.65 per share.
UBA Capital Plc appreciated six kobo or 4.32 per cent to close at N1.45 per share.
Conversely, Conoil Plc fell N2.45 or 4.98 per cent to close at N46.70 per share, while MRS Plc lost N1.99 or 4.98 per cent to close at N37.99 per share.
Air Service Plc dipped 18 kobo or 4.96 per cent to close at N3.45 per share, while Eco Corporation Plc depreciated 21 kobo or 4.86 per cent to close at N4.11 per share.
Mansard Insurance Plc was down 10 kobo or 4.72 per cent to close at N2.20 per share.
A total of 380.8 million shares valued at N4.02bn were traded in 4,554 deals.