Betaglas, Julius Berger others lead stock market’s N8 billion gain
Specifically, at the close of transactions yesterday, the market capitalisation of listed equities appreciated by N8 billion or 0.05 per cent to N14.948 trillion from N14.940 trillion recorded on Friday.
Also, the All-share index, which measures the performance of listed firms increased by 23.12 points or 0.05 per cent from 41,244.89 trillion to 41,268.01.
Analysts predict mixed performance as investors reposition their portfolio to leverage the capital appreciation from Q1 earnings.
Precisely, the Chief Executive Officer of Investdata consulting Limited, Ambrose Omordion said: “We expect a mixed performance for the week as investors digest the numbers to reposition their portfolios in the midst of low valuations, ahead of first quarter economic data and corporate earnings that is coming to an end, especially the Q1 GDP, Purchasing Managers Index (PMI) and April inflation to reveal the true state of the economy.
“Meanwhile, dividend income players are taking position ahead of more economic data, even amidst the expected sustained volatility and repositioning. However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is approaching.”
On the price movement chart, Betaglas emerged the day’s highest price gainer with N3.75 kobo to close at N79.25 per share while Julius Berger followed with N1.15 kobo to close at N28.05 per share.
Dangote cement added N1.00 kobo to close at N246.00 per share. Cement Company of Northern Nigeria Plc rose by N0.95 kobo to close at N20.45 per share. Guaranty Trust Bank gained N0.65 kobo to close at N45.00 per share.
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