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Equities sustain rising profile as ASI increases further by 0.67 per cent

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Following the sustained interest in some high-value stocks, the Nigerian equities market closed the last day in the month of April with a gain of 0.67 per cent.
   
Precisely, the All-Share Index (ASI) increased by 152.61 absolute points, representing a growth of 0.67 per cent to close at 23,021.01 points. Similarly, the overall market capitalisation gained N79billion to close at N11.997trillion.
   
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which were; MTN Nigeria Communications, Ardova Plc, Lafarge Africa, Access Bank, and International Breweries.

   
Analysts at Afrinvest Limited, said: “We expect bargain hunting to continue to buoy positive performance in the near term.” Market breadth remained positive, with 21 gainers versus 13 losers. Ardova Plc recorded the highest price gain of 10 per cent to close at N11.55 per share.
   
University Press followed with 9.28 per cent to close at N1.06, and Livestock Feeds appreciated 7.69 per cent to close at 70 kobo, per share.
   
Caverton Offshore Support Group rose 7.39 per cent to close at N2.47, while Union Diagnostic & Clinical Services edged 6.90 per cent to close at 31 kobo, per share.      
   
On the other hand, Prestige Assurance led the losers’ chart by 9.09 per cent to close at 50 kobo per share. Courteville Business Solutions followed with 4.55 per cent to close at 21 kobo, while Nigerian dropped 3.38 to close at N30, per share.
   
Zenith Bank lost 2.72 per cent to close at N14.30, and United Capital shed 2.09 per cent to close at N2.34, per share. The total volume traded rose by 29.6 per cent to 359.467 million shares worth N3.258 billion, traded in 4,946 deals.
   
Transactions in the shares of Access Bank topped the activity chart with 64.6 million shares valued at N421.469million. FBN Holdings followed with 62.944 million shares worth N289.46million, while Guaranty Trust Bank traded 36.135 million shares at N759.518million.
   
FCMB Group traded 35.157 million shares valued at N61.767million, while Zenith Bank transacted 25.547 million shares worth N371.998million.


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