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Equities re-open positive as investors’ wealth appreciates by N76 billion

By Helen Oji
17 December 2019   |   3:34 am
Trading on the floor of the Nigerian Stock Exchange (NSE), reopened in an upbeat yesterday, occasioned by in some blue chip stocks, causing investors’ wealth

Trading on the floor of the Nigerian Stock Exchange (NSE), reopened in an upbeat yesterday, occasioned by in some blue chip stocks, causing investors’ wealth to appreciate by N76 billion.

Specifically at the close of transactions Monday, the All Share Index (ASI) rose by 158.97 points or 0.60 per cent to 26,695.18 points. 
 
Accordingly, investors gained N76 billion in value as market capitalisation rose to N12.884 trillion.
 
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guinness Nigeria, Dangote Cement, PZ Cussons Nigeria, and United Bank for Africa (UBA), and Access Bank.

 
Analyst at Afrinvest Limited, predicted that the bullish performance would be sustained in the subsequent session, adding that: “However, we maintain our bearish outlook in the near term.

Market breadth closed strongly positive as 17 stocks recorded gains relative to eight losers.

Guinness Nigeria recorded the highest price gain of 9.83 per cent to close at N32.40 per share. PZ Cussons Nigeria followed with 9.52 per cent to close at N5.75, while AG Leventis & Company appreciated 7.69 per cent to close at 42 kobo, per share.

UBA rose 6.06 per cent to close at N7.00, while Access Bank appreciated 4.26 per cent to close at N9.80, per share.

On the other hand, Neimeth International Pharmaceuticals and Cornerstone Insurance led the losers’ chart with 9.09 per cent each, to close at 60 kobo, each, per share. University Press followed with 8.33 per cent to close at N1.21, while FBN Holdings and Royal Exchange shed 3.85 per cent each, to close at N6.25 and 25 kobo, respectively, per share. 

Total volume traded increased by 9.77 per cent to 170.52 million shares worth N2.05 billion, traded in 2,700 deals. Transactions in the shares of Access Bank topped the activity chart with 41.16 million shares valued at N396.95 million. UBA followed with 29.24 million shares worth N201.96 million, while Zenith Bank traded 25.59 million shares valued at N479.81 million.

Guaranty Trust Bank traded 11.32 million shares at N332.86 billion, while Transnational Corporation of Nigeria (Transcorp) transacted 10.05 million shares worth N9.88 million.