Price gains recorded in the stocks of Nigerian Breweries plc, Forte Oil plc, PZ Cussons Nigeria plc, UAC of Nigeria plc, and GlaxoSmithKline Consumer Nigeria plc helped to boost the market performance yesterday.
After trading on the floors of the local bourse, twenty-four equities prices rallied compared with nineteen (19) stocks that lost. While investors buy tendencies outweighed their sell decisions, the Nigerian Stock Exchanges (NSE) All Share Index (ASI) appreciated by 0.30% (107.78 points) to close at 35,488.80 points from 35,381.02 points recorded the preceding trading day (last Friday).
Likewise, the equities market capitalisation increased by N3billion to 11.75 trillion from 11.72 trillion the preceding trading day. At the close of trading on Custom Street, Nigerian Breweries plc led the pack of the gainer after its share price dropped from N162.17 to N165, adding N2.83; while Forte Oil plc rose from N199.98 to N202, adding N2.02.
PZ Cussons Nigeria plc rose by N1, from N22 to N23; UAC of Nigeria plc appreciated from N46 to N47, adding N1, while GlaxoSmithKline Consumer Nigeria plc recorded share price increase from N51 to N52, adding N1.
Analysis of trading activities on the Nigerian bourse showed a decrease by 56.11% as investors traded 198.85 million shares worth N2.34 billion in 4,236 deals, compared with 453.09 million shares worth N7.14 billion exchanged in 5,485 deals the preceding trading day (Friday).
Transcorp plc, Zenith Bank plc, FBNH plc, Mutual Benefits Assurance plc, and Access Bank plc shares were the most actively traded stocks on the Exchange yesterday in terms of volume.
On the negative side, Seplat Petroleum Development Company plc led the pack of losers after its share price dropped from N436.02 to N433, losing N3.02. It was followed by that of Okomu Oil Palm plc which declined from N29.72 to N28.24, after losing N1.48.
Also, Dangote Cement plc joined the losers table after its share price dipped from N205.9 to N205.19, losing N0.71; Flour Mills Nigeria plc dropped from N52.5 to N52, losing N0.5; while UAC-Property Development Company share price dipped from N10.93 to N10.44, down by N0.49.
Oando plc, MRS Nigeria plc, Okomu Oil Palm plc, New Gold, Academy Press plc, C&I Leasing plc are among companies whose third-quarter (Q3) results recently berthed at the Nigerian Stock Exchange.
In the third-quarter (Q3) to September 30, 2014, Oando plc reported turnover decline from N386.25 billion in Q3’ 2013 to N338.10 billion in Q3’2014. However, the company reported profit before tax increased from N9.76 billion to N10.17 billion while profit after tax increased significantly from N6.09 billion in the Q3 period of 2013 to N9.65 billion in Q3’14. The company’s basic earnings per share (EPS) rose to 126 kobo from 93kobo in the corresponding period of Q3’13.
Source : BusinessDay