Seplat, Unilever, others buoy NSE All-share index by 0.2%
Posted: 07/Mar/2018

Seplat Petroleum traded higher at the end of yesterday’s transactions on the trading floor of the Nigerian Stock Exchange (NSE), to lead 25 others with 25.00 kobo to close at N785.oo per share.

Following Seplat yesterday was Unilever, adding 5.50 kobo to close at N59.60 per share.

Other gainers of yesterday’s transactions include: Flour Mills, Dangote Sugar, National Salt Company of Nigeria, which added 1.55 kobo, 1.05 kobo, and 0.70 kobo to close at N34.60, N22.50, and N24.50 per share respectively.

However, Nestle emerged the day’s highest price loser, shedding 20.00 kobo to close at N1,380 per share, while Total followed with 4.00 kobo to close at N250.00 per share.

Guaranty Trust Bank lost 0.85 kobo to close at N48.50 per share. Access Bank shed 0.30 kobo to close at N13.15 per share. Vitafoam dropped 0.14 kobo to close at N2.85 per share.

Consequently, the All-share index, which measures the performance of listed firms’ rose by 95.84 points or 0.2 per cent from 43,513.93 recorded on Monday to 43,609.77. Also, market capitalisation increased by N34billion from N15.632trillion to N15.666trillion.

Analysts stressed the need for investors to be more cautious, using dates, bids, offers and volume when taking decisions as they reshuffle portfolio to invest in some equities with strong fundamentals, high dividend yield and possibility of bonus.

Specifically, the Chief Research Officer, Invest Data Consulting, Ambrose Omodion, said: “We must however note that market outlook for the coming months are dicey, this being a pre-election year in a market dominated by foreign and institutional investors. However, invest wisely, using dates, bids, offers, and volume when taking decisions.

“Here you have to combine your fundamentals and technical analysis tools to boost your chance of trading and investing profitably, while protecting your capital.

“Managing risk and protecting capital at this point is very important, so you will be able to determine when to buy or sell by watching the stocks and the market, using technical analysis.

“More importantly, let numbers emanating from companies and dates guide you into profitable investment. Also, expect volatility and repositioning to continue, while profit taking will reduce on the strength of expected payout and earnings surprises.”

Sterling Bank was the investors’ delight yesterday, accounting for 101 million shares worth N191million, while Fidelity Bank followed with 49 million units valued at N147million.

By Helen Oji
Guardian News

Category: Markets

Get Free Accounting Alerts