ABC transport, Wapic Insurance others lift NSE index by 0.01%
22 September 2020 |
4:08 am
Following price gains recorded by most blue-chip stocks, especially Associated Bus Company (ABC), and Wapic Insurance, reopened transactions on the equities sector...
Following price gains recorded by most blue-chip stocks, especially Associated Bus Company (ABC), and Wapic Insurance, reopened transactions on the equities sector of the Nigerian Stock Exchange (NSE), in an upward trend, yesterday, causing the All Share Index (ASI) to increase by 0.01 per cent.
At the close of trading yesterday, market capitalisation increased by N1 billion or 0.007 per cent from N13.364 trillion recorded on Friday to N13.365 trillion, Monday yesterday. The All Share Index (ASI) appreciated by 1.78 absolute points, representing a growth of 0.01 per cent to close at 25,574.35 points.
The uptrend was impacted by gains recorded in large and medium capitalised stocks, including Presco, UAC of Nigeria (UACN), International Breweries, MTN Nigeria Communications (MTNN), and Guaranty Trust Bank.
Analysts at Afrinvest Limited, said: “We expect to see positive performance in subsequent trading sessions on the back of buying interest in low-priced stocks.”
Market sentiment, as measured by the market breadth, was negative, as nine stocks gained relative to 16 losers. Associated Bus Company recorded the highest price gain of 10 per cent to close at 33 kobo per share.
Wapic Insurance followed with 8.11 per cent gain to close at 40 kobo, while UACN appreciated by 5.79 per cent to close at N6.40, per share.
Mutual Benefits Assurance advanced five per cent to close at 21 kobo, while Cornerstone Insurance appreciated by 4.92 per cent, to close at 64 kobo, per share.
On the other hand, Champion Breweries led the losers’ chart by 10 per cent to close at 81 kobo per share. Red Star Express followed with 9.20 per cent to close at N2.96, while Japaul Oil and Maritime Services lost 4.76 per cent to close at 20 kobo, per share.
Regency Alliance Insurance Company shed 4.17 per cent to close at 23 kobo, and Jaiz Bank slipped 3.39 per cent to close at 57 kobo, per share.
The total volume traded creased by 1.36 per cent to 196.122 million shares worth N1.728 billion, traded in 3,542 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 43.389 million shares valued at N214.452 million.
Chams followed with 26.209 million shares worth N5.262 million, and United Bank for Africa (UBA) traded 13.186 million shares valued at N79.087 million.
Mutual Benefits Assurance traded 12.231 million shares at N2.507 million, while Zenith Bank transacted 11.660 million shares worth N195.077 million.
Related
7 hours ago
In spite of the efforts of the Central Bank of Nigeria (CBN) to control the money supply through its tightening measures, the latest report from the apex bank shows that Nigeria’s Broad Money Supply (M2) soared by 51 per cent year-on-year (YoY) to reach ₦108.96 trillion in November 2024. The surge, according to the CBN,…
10 hours ago
The Nigeria Civil Aviation Authority (NCAA) has summoned Air France following the unruly behaviour of one of their passengers at the Nnamdi Azikiwe International Airport, Abuja. The Director of Public Affairs and Consumer Protection, Dr. Michael Achimugu, in a post on his X handle, said Air France has been summoned to explain their handling of…
17 hours ago
With its vast coastline, strategic location on international trade routes and abundant natural resources, Nigeria’s maritime sector holds immense potential for substantial revenue.
18 hours ago
Data from the Federal Inland Revenue Service (FIRS) has revealed that non-oil taxes accounted for N14.77 trillion or 73 per cent of the N20.211 trillion total taxes collected between January and November 2024.
18 hours ago
The General Secretary of the Association of Maritime Truck Owners of Nigeria (AMATO), Mohammed Sani, has advocated the urgent adoption of digital and infrastructural reforms to address inefficiencies and corruption in logistics and port systems.
18 hours ago
In a seemingly desperate move to raise revenue from new sources, the Federal Government has disclosed that it will tax illicit funds brought into the country.
19 hours ago
Nigeria Communications Satellite (NIGCOMSAT) Limited said providing broadband connectivity to all the 774 local government areas (LGAs) in Nigeria will be a priority in 2025.
1 day ago
The Minister of Power, Adebayo Adelabu, has attributed the failure to increase power generation to 6,000 megawatts (MW) as promised to rampant vandalism of infrastructure.
1 day ago
Amid rising insecurity and other macroeconomic challenges, the Nigerian equities market witnessed remarkable growth in 2024, returning N22 trillion gain to investors.
1 day ago
While the Deposit Money Banks (DMBs) were mandated to pay 60 per cent of pre-February 2022 Unstructured Supplementary Service Data (USSD) debts by July 2025 and 85 per cent of post-February 2022 debts by yesterday, December 31, 2024
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.