The equities market halts its losing streak Wednesday, after NSE All-Share Index appreciated by 0.08%, to settle the Year-to-Date at –5.31%. Eighteen (18) stocks advanced and declined apiece, leaving the market breadth at 1.0x. Similarly, market turnover and volume traded appreciated by 40.96% and 41.15% respectively.
ETRANZACT topped the gainer’s chart, gaining 10.11% to close at NGN5.12. The list also featured LEARNAFRICA (+4.92%), UNILEVER (+4.60%), DANGSUGAR (+4.50%) and AFRIPRUD (+4.42%). On the opposite side, UACN recorded the worst performance, having dropped by 5.00% to settle at NGN18.43, trailed by JBERGER (-5.00%), CAPHOTEL (-4.89%), LIVESTOCK (-4.88%) and IKEJAHOTEL (-4.86%) accordingly.
FBN, (Gross Earnings: +7.00% YoY; PBT: -3.50% YoY; PAT: -15.30% YoY) UBN (Gross Earnings: +11.60%; PBT: +38.92%; PAT: +39.36% YoY), LASACO (Gross Premium Earned: +0.79%; PBT: +70.55%; PAT: +100.98% YoY) and AFRIPRUD (Revenue: -12.05%; PBT: -22.55%; PAT: -23.93% YoY) were a few of the companies that released their Q3: 2016 results today.
According to the NSE sector indices, the NSEFBT10 (+0.51%), NSEBNK10 (+0.14%), and NSEIND (+0.04%) advanced during the day’s trading session. Conversely, the NSEOILG5 and NSEINS10 indices declined by 0.65%, and 0.57% in that order.
As we inch closer to the deadline for the release of Q3:2016 scorecard, market watchers expect the outcome of results to sway investors’ sentiments for the rest of the week. Also, they advise value seeking investors to trade cautiously, as the market mood remains frail.