Equities trading on the floor of the Nigerian Stock Exchange soar as investors reacted to several first quarter earnings being released by equities with December financial year end. Total points added by the lead index during today’s trade was 221Bpts. Aside NSE-Consumer Goods, NSE-Insurance and NSE-Lotus II that shed points, other observed market indices closed above their respective opening points. By this outstanding performance, both WtD and MtD returns turned green at 93Bpts and 90Bpts respectively. See index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N192.963 billion, same as 221Bpts above the opening value. Meanwhile, trading activities for the day produced 18 advancers and 11 lagers. NSEASI Year to Date loss is -4.20% while the Market Capitalization Year to Date loss stood at –N338.139 billion same as 3.66% below the year’s opening value.
Six listed equities unveiled their first quarter financials while Diamond Bank released its belated full year 2016 financial statistics, in the released data, Gross Earnings for the period drops from N217.09 billion of 2015 to N212.41 billion. Profit for the period equally dropped to N3.498 Billion from N5.656 billion. No dividend information has been received.
Meanwhile Transcorp reported a robust Q1 profit of N1.496 billion against N186.18 million in Q1-2015. Ashakacem announced PAT of N2.158 billion against N155.08 million last year. Etranzact Q1 earnings dropped from N148.45 million to N85.32 million. CAP Q1-earnings equally dropped to N390.36 million from N421.50 million. Stanbic IBTC doubled Q1 profit from N8.05 billion to N16.07 billion. Lafarge Africa Plc reported N5.161 billion profit (Q1 2017) against N1.872 billion Loss after tax of similar period in 2016.
Despite the brightened mood that currently surrounds the market arena, we maintained that investors should tread carefully, the sustainability of the outstanding three months financial performances should be the main basis of investment decision in this season. Safe Trade.
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