NSE-ASI reclaims 35,000bpts as stocks extend gains

The equities market closed yesterday on a positive note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] appreciated by 0.74 per cent to close at 35,190.23 basis points, compared with the 1.19 per cent appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 1.54 per cent.

Market breadth also closed positive as Wema Bank led 32gainers against 18losers topped by CCNN at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover closed negative as volume declined by 78.79 per cent against 170.07 per cent uptick recorded in the previous session. FBNH, Stanbic and Transcorp were the most active to boost market turnover. Stanbic and Zenith Bank topped market value list.

On sectoral indices, banking recorded 1.88 per cent gain to emerge the most supportive sectoral index among others while NSE Lotus emerged as worst hit to close with 0.84 per cent.

Volume shockers included Stanbic which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, Afriland Properties Plc has declared 40k dividends to shareholders.

Afriland Properties Plc whose securities are trading on National Association of Securities Dealers [NASD] Over-The-Counter [OTC] market recently released its audited results for the year ended 31 December 2014.

The audited result showed an increase of 83 per cent in turnover, 311 per cent in Profit before Tax and 439 per cent in Profit after Tax.

A dividend of 40 kobo was approved by the shareholders at annual general meeting (AGM) of the company which held in Lagos on Wednesday 08 April 2015. The last closing price of this security is ₦2.25