Eternaoil, Lasaco others lift index by 0.54 per cent
Following gains recorded by blue-chip stocks, including Eternaoil and Lasaco Assurance, the equity market reversed the previous day’s losses to close upbeat yesterday, with the All-Share Index (ASI) increasing by 0.54 per cent.
The ASI rose by 208.71 absolute points, representing a growth of 0.54 per cent to close at 38,914.84 points. Also, the market capitalisation gained N109 billion to close at N20.36 trillion.
The market’s gain was driven by price appreciation in large and medium capitalised stocks including Guaranty Trust Bank, Zenith Bank, Dangote Sugar Refinery, Eterna and UAC of Nigeria.
Analysts at Afrinvest Limited said: “We expect a gain reversal in the last trading session of the week due to profit-taking.”
The market breadth was positive, as 22 stocks gained, relative to 11 losers.
Eterna recorded the highest price gain of 9.96 per cent to close at N5.08. Lasaco Assurance followed with a gain 8.33 per cent to close at N1.30 kobo while Zenith Bank gained 7.32 per cent to close at N22.
Guaranty Trust Bank went up by 6.43 per cent to close at N29.80 kobo while Dangote Sugar Refinery appreciated by 6.43 per cent to close at N17.
On the other hand, Linkage Assurance and Wapic Insurance led the losers’ chart by 9.09 per cent each to close at 50 kobo each while Associated Bus Company followed with a decline of 6.67 per cent to close at 28 kobo. Sterling Bank lost 6.37 per cent to close at N1.47 kobo.
Honeywell Flour Mill shed 5.6 per cent to close at N1.18 kobo.
The total volume traded advanced by 727.8 per cent to 1.468 billion shares, worth N5.854 billion, and traded in 4,040 deals. Transactions in the shares of Unity Bank topped the activity chart with 1.001 billion shares valued at N700.691 million.
Multiverse Mining and Exploration followed with 2000.187 million shares worth N40.037 million, while Guaranty Trust Bank traded 122.177 million shares valued at N3.553 billion.
Zenith Bank traded 32.841 million shares valued at N711.916 million, while FBN Holdings transacted 18.971 million shares worth N137.821 million.
No comments yet