The Nigerian
Stock Exchange All Share Index (NSE ASI) and the Market Capitalization depreciated
by 0.60%, at today's trading with the All Share Index closing at 29,396.31points
against the previous close of 29,572.90 points
while Market Capitalization closed at N10,102.90 trillion against previous
close of N10,163.59 trillion.
With this performance, the Year-to-Date return
stood at -15.18%.
The NSE 30 Index decrease by 0.82 per cent
from 1,341.31 basis points to 1,330.30 basis points.
The NSE Banking Index depreciates by 1.13 per
cent from 312.59 points to 309.07 basis points.
Volume traded increased by 173.43% from 141,270,343.00
million to 386,280,347.00 million, while the total value of stock traded increased
by 40.47% from ₦1,361 to ₦1,913 billion in 2,923.00 deals with 11 stocks rising,
62 stocks closed flat while 33 others are declining.
ASHAKACEM Plc. rose by 4.07 per cent or N0.90
to close at N23.00 per share.
CORPORATE
DISCLOSURE
Sterling Bank recorded revenue growth of 12.02%.
Sterling
bank Plc. recently declared it’s Q3:2015 results in which gross earnings grew
by 12.02% to N81bn and PAT marginally by 6.86% to N7bn despite the unfavourable
macro and regulatory environment. EPS dropped by 19.86% to N0.26.
Currently trading at N2.00 and at a P.E
of 5.83x, we maintain our BUY rating with a price target of N2.50 representing an
upside of 25.00%.
Bond yields rise as liquidity thins
Credit: AAML
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