UBA, Access Bank join NSE premium board, equities appreciate

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Stanley Opara

The Nigerian Stock Exchange has upgraded United Bank for Africa Plc and Access Bank Plc to the NSE premium board, joining Dangote Cement Plc, FBN Holdings Plc and Zenith Bank Plc.

Meanwhile, the Nigerian bourse started the week on a positive note, as the All-Share Index advanced marginally by 0.02 per cent. The year-to-date return was thus pushed higher to 11.34 per cent. The market recorded 21 gainers and 26 losers.

Japaul Oil & Maritime Services Plc started the week as the top gainer in the bourse, with its price rising by 9.52 per cent to close at N0.45. Other top gainers were Unity Bank Plc, Nascon Allied Industries Plc, Redstar Express Plc and International Breweries Plc, which appreciated respectively by 9.4 per cent, 5.11 per cent, five per cent and five per cent, respectively.

Topping the losers’ chart was Courtville Business Solutions Plc, which shed 6.25 per cent, dragging its price to N0.30. Other losers in the day were 11 Plc (Mobil), Caverton Offshore Support Services Plc, May & Baker Nigeria Plc and Cap Plc, which declined by five per cent, five per cent, 4.91 per cent and 4.88 per cent, accordingly.

Sector performance as measured by the NSE sector indices showed an advancement in the banking, food/beverage and insurance indices by 0.28 per cent, 0.78 per cent and 0.49 per cent, respectively, while the NSE oil/gas and industrial goods indices shed 2.50 per cent and 0.17 per cent, respectively.

The Nigerian bourse sustained the bullish sentiments which persisted in the market in the previous week.

“We envisage a positive close to the market this week, given the significant declines recorded on several counters in the last two weeks,” analysts at Meristem Securities said in a post.

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