Bellwethers lift stock market index further by N47 billion
Transaction in the equities sector of the Nigerian Stock Exchange (NSE), continued on a positive note yesterday, as more bellwethers stocks appreciated in price, resulting to a further rise in market capitalisation by N47billion.
Yesterday, the All-Share Index (ASI) increased by 67.28 absolute points, representing a growth of 0.27 per cent to close at 25,316.15 points. Similar, the overall market capitalisation gained N47billion to close at N13.241trillion.
The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Dangote Cement, Guaranty Trust Bank, MTN Nigeria Communications, NASCON Allied Industries, and Skyway Aviation Handling Company.
In its report on, ‘Equities Market,’ United Capital Plc said: “This month, we expect the low yield environment in the fixed income space to continue to spur local interest for equities, especially in stocks with prospect of paying interim dividends. In all, we advise investors to continue to position in value and growth stocks that can deliver profitable returns on their portfolios.”
Market sentiment measured by breadth was positive with 20 gainers, relative to 18 decliners. Neimeth International Pharmaceuticals recorded the highest price gain of 9.84 per cent to close at N1.34 per share. University Press followed with a gain 9.65 per cent to close at N1.25, and Skyway Aviation Handling Company rose by 9.52 per cent to close at N2.07, per share.
Japaul Oil & Maritime Services gained 9.09 per cent to close at 24 kobo, while Associated Bus Company appreciated by 8.57 per cent to close at 38 kobo, per share.
On the other hand, Prestige Assurance led the losers’ chart by 10 per cent to close at 54 kobo per share. Omatek Ventures Plc followed with 9.68 per cent to close at 28 kobo, and Champion Breweries fell 9.09 per cent to close at 90 kobo, per share.
Union Bank of Nigeria (UBN) lost 8.21 per cent to close at N6.15, and UAC of Nigeria (UACN) shed 6.67 per cent to close at N8.40, per share.
The total volume of trade rose by 49.18 per cent to 377.883 million units, valued at N6.059billion, exchanged in 4,585 deals. Transaction in the shares of Nigerian Breweries topped the activity chart with 50.458 million shares at N2.22 billion.
Guaranty Trust Bank followed with 40.447 million shares worth N1.012billion, while Zenith Bank traded 34.898 million shares valued at N599.03million.
Aiico Insurance traded 29.464 million shares valued at N31.125 N151million, while FBN Holdings transacted 27.695 million shares worth.081 million.