Equities sustain positive streak as index appreciates further by N45b
The Nigerian Stock Exchange (NSE), sustained a rising profile at the close of transactions yesterday, as more highly blue-chip stocks appreciated in price, resulting in a further rise in market capitalisation by N45 billion.
Specifically, the All-Share Index (ASI) increased by 86.82 absolute points, representing a growth of 0.34 per cent to close at 25,413.95 points. Similarly, the overall market capitalisation gained N45 billion to close at N13.258 trillion.
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Nigerian Breweries, Stanbic IBTC Holdings, United Bank for Africa (UBA), UAC of Nigeria (UACN), and Ecobank Transnational Incorporated (ETI).
Analysts at Afrinvest Limited, said: “We expect the soft gains to be sustained on the back of improved investor appetite.”
Market sentiment, as measured by the market breadth, was positive, as 27 stocks appreciated in price relative to nine decliners. Livestock Feeds recorded the highest price gain of 10 per cent to close at 66 kobo, per share.
Eterna followed with a gain of 9.47 per cent to close at N2.08, while Jaiz Bank rose 8.93 per cent to close at 61 kobo, per share.
UACN Property Development Company (UPDC) advanced 8.24 per cent to close at 92 kobo, and Neimeth International Pharmaceuticals ganered 7.53 per cent to close at N2.00, per share.
On the other hand, Wapic Insurance led the losers’ chart by 5.71 per cent to close at 33 kobo, per share. Union Bank of Nigeria (UBN) followed with a 5.66 per cent fall to close at N5.00, while PZ Cussons Nigeria lost 2.38 per cent to close at N4.10, per share.
May and Baker Nigeria slipped 2.33 per cent to close at N2.93, and FCMB Group shed 2.27 per cent to close at N2.15, per share.
Also, the total volume traded rose by 255.3 per cent to 1.074 billion shares worth N2.105 billion, traded in 3,221 deals.
Transactions in the shares of UACN Property Development Company (UPDC) topped the activity chart with 947.743 million shares valued at N663.673 million.Access Bank followed with 22.703 million shares worth N144.999 million, while Guaranty Trust Bank traded 10.923 million shares valued at N279.416 million.
Fidelity Bank traded 8.465 million shares at N14.83 million, and Lasaco Assurance transacted 8.074 million shares worth N2.098 million.
No comments yet