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BUA Cement, other 11 stocks lift capitalisation by N116b

By Helen Oji
12 October 2022   |   4:00 am
Resuming from the Eid el Maulud holiday, trading at the capital market closed in an upbeat, yesterday, with gains in BUA Cement Plc and 11 stocks lifting market capitalisation by N116 billion.

Resuming from the Eid el Maulud holiday, trading at the capital market closed in an upbeat, yesterday, with gains in BUA Cement Plc and 11 stocks lifting market capitalisation by N116 billion.

At the close of transactions yesterday, market capitalisation of listed equities increased by 0.4 per cent to N25.907 trillion from N25.791 trillion reported the previous day.

The all-share index (ASI) also appreciated by 214.49 basis points to 47565.92 points from 47351.43 points traded on Friday.

The upturn was led by gains recorded in medium and large capitalised stocks, amongst which are BUA cement, NGX Group, May&Baker, United Bank for Africa (UBA), United Capital, AccessCorp and Ikeja Hotel.

Investors traded 125.652 million shares valued at N1.902 billion in 4188 deals against 137.28 million shares worth N1.71 billion exchanged hands the previous day in 3845 deals.

Vetiva Dealings and Brokerage firm said: “Despite the negative sentiment in the market, we’ve started to see market breath figures come in closer to positive and we expect this trend to persist tomorrow.”

On the price movement chart, May&Baker led the gainers’ chart, adding 9.76 per cent to close at N4.05 kobo, while Ikeja Hotel followed with 9.73 per cent to close at N1.24 kobo. BUA Cement appreciated by 8.65 per cent to close at N56.50 kobo. Cornerstone Insurance added eight per cent to close at 54 kobo. Unity Bank garnered 7.32 per cent to close at 44 kobo. Chams gained 3.7 per cent to close at 28 kobo.

UBA appreciated by 3.7 per cent to close at N7. Jaiz Bank garnered 3.49 per cent to close at 89 kobo. AccessCorp 2.63 per cent to close at N7.80 kobo. NGXGroup gained 2.38 kobo to close at N21.50 kobo.

On the other hand, UPL led others on the losers’ chart, shedding 8.54 per cent to close at N1.50 kobo. Cadbury trailed with 6.94 kobo to close at N11.40 kobo. FTN Cocoa declined by 6.67 per cent to close at 28 kobo. Caverton lost 5.94 per cent to close at 95 kobo. Cutix shed 4.63 per cent to close at N2.06 kobo. FBNH shed 4.04 per cent to close at N9.50 kobo. Seplat depreciated by four per cent to close at N1, 200. JapaulGold lost 3.7 per cent to close at 26 kobo. Mansard shed 3.07 per cent to close at N1.58 kobo. Unilever also dropped 2.44 per cent to close at N12.

GTCO Plc was the most active stock during the day, exchanging 38.865 million shares valued at N659.095 million FBNHoldings followed with an account of 22.826 million shares valued at N216.87 million, Transnational Corporation of Nigeria traded 9.608 million shares valued at N10.074 million, NGX group traded 6.274 million shares worth N134.526 million. Chams Plc exchanged 5.307 million shares for N1.448 million.

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