Nigeria’s equities market witnessed an upturn on thursday, January 2, 2020, the first trading day of the year as investors smiled home with N12.4 billion gain.
This is following a total decline of 14.6 percent in 2019 (the previous year), Confiance News gathered from data mined from the Nigerian Stock Exchange (NSE).
According to the Daily Official List of the NSE, market opened the new year with a gain of 0.10 percent, with the NSE All-Share Index (NSE ASI) appreciating to 26,867.79.
The ASI, the NSE explained, tracks the general market movement of all listed equities on the Exchange, including the Alternative Securities Market (ASeM) regardless of their capitalisation.
However, the gain was attributed to the buying interest in MTN Nigerian Communications Plc, FBN Holdings Plc and Dangote Sugar Refinery Plc. Market capitalisation increased by N12.4 billion to close higher at N12.971 trillion.
The first trading day of the year saw 22 stocks appreciate as against 13 that depreciated. Royal Exchange Plc led the price with 10 per cent, trailed by Cornerstone Insurance Plc with 8.8 per cent. Courtville Business Solutions Plc chalked up 8.7 per cent, just as Transcorp Plc gained 8.0 per cent.
On the flipside, Seplat Petroleum Development Company Plc led the price losers with 9.9 per cent, trailed by Glaxosmithkline Consumer Nigeria Plc and Lafarge Africa Plc with 9.8 per cent apiece.
Fidson Healthcare Plc and Wema Bank Plc went down by 9.6 per cent and 8.1 per cent respectively. Unilever Nigeria Plc and Sterling Bank Plc lost 5.9 per cent and 4.5 per cent in that order.
Although the Nigerian bourses (NSE) recorded some gains, activity level declined as volume and value traded fell by 74.9 percent and 4.8 per cent to 264.1 million shares and N5.2 billion respectively. The top traded stocks by volume were FBN Holdings Plc (60.3 million shares), Access Bank Plc (33.5 million shares) and Zenith Bank Plc (30.9 million shares).
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