Capitalisation rises by N198b amid gains in Champion Breweries, others

Transactions on the nation’s bourse continued in an upbeat yesterday, as gains in Champion Breweries, 14 stocks lifted capitalisation by N198 billion. At the close of transactions yesterday, market capitalisation of listed equities increased by 0.33 per cent to N59.707 trillion from N59.509 trillion reported the previous day.

Similarly, the All Share Index also appreciated by 325.80 basis points to 98540.93 points from 98205.13 points traded the on Monday. Reacting on market performance, analysts at Investdata Consulting Limited said: “We expect mixed sentiment to continue on positioning and profit taking ahead of more third quarter (Q3) earnings reports.

“Also, sector rotation and portfolio rebalancing continues in the market, with investors taking advantage of pullbacks to buy into value. Consequently, investors should take advantage of price correction looking at the trends across the globe and domestic market.”

On the price movement chart, Champions Breweries led gainers table with 9.97 per cent to close at N3.42 kobo. Tantalizer followed with a gain of 9.09 per cent to close at 60 kobo, Oando Plc added 7.93 per cent to close at N77. Aradel appreciated by 6.09 per cent to close at N820. Eterna Plc also increased by 4.86 per cent to close at N25.90 kobo.

On the contrary, Caverton Business Solutions topped losers chart, declining by 10 per cent to close at N2.34 kobo. TrippleG trailed with a loss of 9.95 per cent to close at N1.81 kobo, C&I Leasing was down by 9.80 per cent to close at N3.59 kobo. Jaiz Bank dipped by 9.21 per cent to close at N2.17 kobo, Deap Capital fell by 9.09 per cent to close at N1.20 kobo.

Volume of shares traded declined by 18.926 million, representing 6.25 per cent as investors traded 286.044 million shares valued at N26.817 billion in 9650 deals against 304.970 million shares cost N19.707 billion in 8083 deals.

Transactions in the shares of AccessCorp led market activities with 45.945 million shares valued at N928.509 million. Zenith Bank followed with account of 30.379 million shares valued at N1.139 billion, Aradel exchanged 25.020 million shares valued at N20.755 million.

United Bank for Africa traded 16.362 million shares cost N412.927 million, Veritas Kapital traded 15.133 million shares worth N22.736 million.