The Basic indicators of the Nigerian Stock Exchange (NSE) closed green in September, with investors recovering about N520.961 billion from the N1.749 trillion the market lost in
the first 90 days of President Muhammadu Buhari’s administration.
In the month of August alone, the investors saw a N137 billion decline in the value of their equity investment.
In September, capitalisation rose from N10.208 trillion to N10.728 trillion at the close of trading on Wednesday, while the NSE All-share Index (ASI) appreciated by 1,532.93 basis points or 5.16 per cent, from 29,684.84 points to 31,217.77 points, reducing the year-to-date loss by 9.92 per cent.
The biggest gainers for the month in percentage terms was Trans-Nationwide Express, which recovered 34.44 per cent price increase, followed by Okomu Oil Palm with 29.63 per cent while United Bank for Africa chalked 27.19 per cent ahead of Ikeja Hotels, 27.11 per cent.
Also on the biggest gainers’ list was Nigerian Breweries, which notched 21 per cent, as its market capitalisation rose from N963.305 billion by the last trading day of August to N1.165 trillion as at September 30, 2015.
Other high cap stocks that recorded gains during the month included Guinness Nigeria which recorded a growth of 12.60 per cent when it closed at N689.603 billion from N665.831 billion in August; Zenith Bank rose by 10.59 per cent from N477.226 billion to N527.775 billion just as Guaranty Trust Bank climbed N31.876 billion or 4.72 per cent up to close at N706.438 billion from N674.562 billion.
Dangote Cement chalked N129 billion or 4.39 per cent from N2.938 trillion to N3.067 with Nestle appreciating by N23.772 billion or 3.57 per cent to close at the end of September at N689.603 billion from N665.831 billion recorded at the close of trading in August.
FBN Holdings, one of the three companies on the premium board platform recorded an improvement of 0.97 per cent when it market cap moved from N220.397 billion at the end of August to N222.550 billion at the close of trading on Wednesday, September 2015.
On the decliners’ side, Greif Nigeria suffered an 18.38 per cent decline; Conoil lost 17.64 per cent in a month when it published its 2014 audited results showing that turnover fell to N128.352 billion from N159.537 billion in the corresponding 12 months of 2013; with cost of sales dropping from N142.498 billion to N114.563 billion; leaving gross profit of N13.789 billion, down from N17.038 billion.
Following the impact of distribution and administrative expenses and finance cost, operative profit came to N1.532 billion from N4.575 billion and net profit of N834 million, representing earnings per share of 120 kobo as against N3.07 billion or 442 kobo.
Despite the decline, the directors have proposed a dividend of 100 kobo per share, as against the situation last year when the shareholders were not compensated.
Besides Conoil, the month’s biggest decliners included Cadbury Nigeria, 15.97 per cent; Academy Press, 15.07 per cent; UACN, 10.18 per cent; Transcorp Hotel, 9.67 per cent; and Northern Nigerian Flour Mills, 9.65 per cent. Others are Unity Bank, Dangote Sugar and Flour Mills Nigeria Plc.
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