Equities rebound as RT Briscoe, SCOA others lift index by 0.2 per cent

The bulls regained vigour at the end of yesterday’s transactions on the equities sector of the Nigerian Exchange Limited (NGX) as virtually all the blue-chip stocks appreciated in price, especially RT Briscoe and SCOA, causing the All-Share Index (ASI) to appreciate by 0.2 per cent

Specifically, at the close of trading yesterday, market capitalisation of listed equities increased by N54 billion to N25.411 trillion from N25.357 trillion reported on Tuesday.

Similarly, the ASI appreciated by 99.99 basis points to 47157.23 points from 47057.24 points traded the previous day. Investors traded 297.245 million shares valued at N4.694 billion in 4661 deals against 238.216 million shares valued at N5.085 billion exchanged hands in 4826 deals.

Vetiva Dealings and Brokerage said: “With mixed sectoral performance, we expect to see the market sustain today’s positive close, barring any significant price dip in any of the large-cap stocks.”

An analysis of the transactions showed that 28 stocks appreciated in price while 14 constituted the losers’ chart. RTBriscoe Plc led the gainers’ chart, adding 10 per cent to close at 33 kobo. SCOA Plc followed with a gain of 9.49 per cent to close at N1.50 kobo.

Sunu Assurance gained 8.33 per cent to close at 39 kobo. NEM Insurance added 7.25 per cent to close at N3.55 kobo. Union Bank of Nigeria increased by 6.84 per cent to close at N6.26 kobo.

Neimeth appreciated by 5.52 per cent to close at N1.91 kobo while International Breweries added 4.95 per cent to close at N5.30 kobo. Academy Press garnered 4.84 per cent to close at N1.30 kobo. Flourmills added 4.34 per cent to close at N31.25 kobo. Mutual Benefit Assurance also gained 4.00 per cent to close at 26 kobo

However, Juli Plc recorded the highest loss during the day, shedding 9.89 per cent to close at 82 kobo while Multiverse trailed with a drop of 4.76 per cent to close at 20 kobo.

Sovereign Trust Insurance depreciated by 4.17 per cent to close at 23 kobo. AIICO Insurance shed 2.74 per cent to close at 71 kobo. UPDC REITS sheds 2.74 per cent to close at N3.55 kobo. Unity Bank shed 2.00 per cent to close at 49 kobo. Linkage Assurance shed 1.96 per cent to close at 50 kobo.

Honeywell Flourmills dropped 1.74 per cent to close at N3.39 kobo. Mansard depreciated by 1.64 per cent to close at N2.40 kobo. Fidson also shed 1.53 per cent to close at N7.73 kobo.

Further breakdown of yesterday’s trading indicated that Access Bank was the toast of investors during the day, exchanging 48.079 million shares valued at N498.702 million.

Sovereign Trust Insurance followed with account of 37.477 million shares cost N8.621, NGX group traded 22.694 million shares cost N567.093 million, Fidelity Bank traded 21.020 million shares valued at N60.502, Transnational Corporation of Nigeria exchanged 18.365 million shares worth N21.411 million.