The Nigerian equities market today appreciated by 346 basis points as against 363 basis points increase recorded on last trading day. At the end of today’s trading session, the ratio of advancers to decliners closed at 6.1. The ASI gained 1029.22 points to close at 30,745.74 while the market capitalization increased by $1.62 billion to close at US$48.26 billion (N6.997 trillion). However, the value of transactions consummated decreased by 11.99% to close at $26.12 million (N3.786 billion) as against $29.67 million (N4.302 billion) recorded on last trading day.
The Nigerian Stock Exchange today marked down the prices of Multiverse, Beta Glass, and Continental Insurance for dividend of 0.04 kobo, 0.30 kobo, and 0.05 kobo respectively.
Eterna Oil Plc today released its un-audited first quarter results for the period ended 31st March, 2009. Turnover increased by 42.20% to N1.813 billion, PBT nose-dived by 1092% to a loss of N223.057 million, while PAT plummeted by 1517.68% to a loss of N223.057 million as against a profit of N15.734 million recorded in the
corresponding period of 2008.
The Nigerian equities market today opened high as market euphoria continued unabated. The mid-day session further witnessed buying pressure which caused majority of the stocks to trade at limit high. At the close of trading session, the bulls confirmed their superiority over the bears as most market indicators close higher.
In our opinion, current trend may continue in the market for the next few trading days.
Money Market rates
Market Information from the CSL Equity Market Note.