Equities post slim gains, as market enters cautious trading mold

•Capitalisation rises by N18 billion
Transactions on the Nigerian Exchange Limited (NGX) sustained a rising profile, yesterday, as many blue-chips joined the league of gainers, resulting in N18 billion gain in market capitalisation.

The all-share index inched higher by 39.49 absolute points, representing an increase of 0.08 per cent to close at 51,178.41 points while the overall market capitalisation appreciated by N18 billion to close at N27.871 trillion.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Stanbic IBTC Holdings, International Breweries, PZ Cussons Nigeria, Nigerian Aviation Handling Company (NAHCO) and Transnational Corporation (Transcorp).

Analysts Vetiva Dealings and Brokerage said: “Despite today’s general recovery, we still expect the market to trade mixed tomorrow(today), as investors continue to trade cautiously while taking positions in fundamentally sound stocks at attractive entry points.”

As measured by market breadth, market sentiment closed positive as 25 stocks gained relative to eight losers. Transcorp recorded the highest price gain of 9.85 per cent to close at N2.23 kobo. International Breweries followed with a gain 6.74 per cent to close at N4.75 kobo while Academy Press gained 6.56 per cent to close at N1.30 kobo.

Livestock Feeds rose by 4.26 per cent to close at 98 kobo, while RT Briscoe Nigeria appreciated by 4.17 per cent to close at 25 kobo. JapaulGold appreciated by 3.57 per cent to close at 29 kobo while Eternaoil depreciated by 3.48 per cent to close at N5.95 kobo.

Sterling Bank gained 3.36 per cent to close at N1.54 kobo. Jaiz Bank increased by 3.26 per cent to close at 95 kobo. Stanbic IBTC rose by 3.19 per cent to close at N35.60 kobo. PZ Cussons also improved by 2.59 per cent to close at N11.90 kobo.

On the other hand, FTN Cocoa processors led the losers’ chart by 3.85 per cent to close at 25 kobo. Prestige Assurance followed with a decline of 2.50 per cent to close at 39 kobo, while Nigerian Breweries declined by 1.5 per cent to close at N36.20 kobo.

Lafarge Africa shed 1.47 per cent to close at N23.40, while Africa Prudential dipped by 0.92 per cent to close at N5.40 kobo.

African Prudential lost 92 per cent to close at N5.40 kobo. First City Monument Bank shed 86 per cent to close at N3.47 kobo. Lasaco dropped 86 kobo to close at N1.15 kobo. National Salt Company of Nigeria declined by 76 per cent to close at N13.

However, the total volume traded declined by 30.1 per cent to 1.272 billion units, valued at N3.978 billion, and exchanged in 3,505 deals. Transactions in the shares of Transcorp topped the activity chart with 1.139 billion shares valued at N2.139 billion. Fidelity Bank followed with 19.515 million shares worth N102.593 million, while Zenith Bank traded 16.485 million shares valued at N359.074 million.

Guaranty Trust Holding Company (GTCO) traded 15.089 million shares valued at N379.995 million, while Dangote Sugar Refinery transacted 8.973 million shares worth N154.786 million.