MARKET RECORDED 0.975% NEGATIVE OUTLOOK

All-Share market index today lost 0.975% and market capitalization dropped by N52.349 billion. The NSE-30 Index declined by 0.023%, NSE-Food &Beverages lost 0.598%, NSE-Banking lost 1.576%, NSE-Insurance declined by 0.326%, while NSE-Oil &Gas gained 0.720%. The index movement in the entire market for the day showed 22,758.77 maximum, 22,525.62 average and 22,293.53 lowest.

One Hundred and Twenty Three (123) stocks were traded in the market today out of which Twenty Four (24) advanced, Forty-One (41) declined and Fifty Eight (58) traded at their previous closed prices.

The top ten gainers today were: AP Plc, UACN Plc, Flourmill Plc, Wapco Plc, Diamond Bank Plc, Ashakacem Plc, UPL Plc, Dangflour Plc, Starcomms Plc and Intercontinental Bank Plc with gains of 159k, 150k, 125k, 48k, 29k, 24k,21k,15k,9k and 9k respectively.

The top ten losers on the other hand were: Nestle Plc, Guinness Plc, Honeyflour Plc, Rtbriscoe Plc, Nahco Plc, Union Bank Plc, CCNN , ETI and FCMB; they lost 499k, 314k, 170k, 42k, 39k, 35k,32k,30k, 29k and 21k in that sequence.

The top five most traded sectors were: Banking with a total volume of 208.794 million units (about 50.40% of the entire market volume) exchanged in 3,334 deals, valued at N1.764 billion, Insurance sector followed with 158.085 million units traded( 38.17% of the market volume), Food &Beverages sector traded 12.784 million units (3.09% of the market volume), Petroleum Marketing traded 8.129 million units (1.96% of the market volume) and Building Materials traded 3.251 million units (0.785% of the entire market volume).

The ten most traded stock for today were Goldinsure Plc-81.937 million units, IAINSURE- 64.957 million units, UBA-42.127 million units, Diamond Bank-27.516 million units, FCMB-22.727 million units, First Bank-19.179 million units, Skye Bank-16.844 million units, Firstinland Bank-16.798 million units, Zenith Bank-11.426 million units and Fidelity bank- 11.198 million units..

Livestock Plc, Courtville, AP and UPL closed on bid. However FTN Cocoa, Nahco, Rtbriscoe, Spring Bank, Guinness, Afromedia, PZ, Honyflour, Nestle, Lasaco, Nigerins, Stdinsure, Wapic, Daarcomm, Crusader, Bagco, Becopetrol, UAC-Prop and UNTL closed on Offer.


RESULTS RELEASED TODAY:


BAGCO PLC FIRST QUARTER RESULTS:

When compared with the previous year first quarter result, Bagco Plc recorded 3.72% increase in its turnover, 28.80% decline in its Profit After Tax, 3.14% decline in its Fixed Assets, 7.46% increase in its working capital and 1.88% in its Net Assets.

NIGERIA WIRE&CABLE PLC HALF YEAR RESULT:

The turnover for the period increased by 24%, Profit After Tax also rose unusually by 724.67%. There was increase of 7.92% on the Fixed Assets, a drop of 13.86% in the company’s working capital and improvement of 4.77% on the Net Assets in the period.

ZENITH BANK FOURTH QUARTER RESULT:

The turnover for the period increased by 19.42%, Profit After Tax declined by 53.20%, Fixed Assets increased by 48.06%, Working Capital declined by 3.53% and Net Asset declined by 3.52%