Rounding off the week on a positive note, equities trading on the floor of the Nigerian Bourse gained 92Bpts. In our opinion, two major factors might be responsible for the newly found confidence around the market arena; the value recovery of the nation’s currency against the US Dollar and the reported reduction in the nation’s headline inflation figure. Thus, Week to Date activities index grew by 164Bpts. Similarly, Month to Date returns is up by 128Bpts. See the index movement table for details.
Value gained by the market capitalization of the listed equities during today’s trading activities was N81.354 billion same as 92Bpts above the opening value. Meanwhile, trading activities for the day produced 17 advancers and 14 lagers. NSEASI Year to Date loss is -4.55% while the Market Capitalization Year to Date loss stood at –N368.850 billion same as 3.99% below the year’s opening value.
Diamond Bank led the gainers’ log for the week with 16.05% as it closed at N0.94 from N0.81. United Capital and Continental-Reinsurance followed with15.70% and 13.21% respectively. While African Prudential and UBA completed the top five list with 9.65% and 9.56% respectively.
The decliners’ log was championed by Nem Insurance and 7-up Bottling with 10.99% and 9.64% respectively. Nahco and Neimeth followed with 9.09% and 8.96% loss and Ashaka Cement completed the top five list with 8.30% loss.
During the just concluded week, Zenith Bank and Access Bank were both adjusted for N1.77 and N0.40 cash dividend respectively. While Okomu Oil and Unilever released their board resolution to pay dividend in their respective expected earnings. Please note that Grief Nig. Plc will be adjusted for 60k cash dividend on 22nd March, 2017. Safe Trade.