Gaining streak strengthens, as index rises further by 0.16%
The equities market extended current positive streak to four consecutive trading days, just as more blue-chip stocks witnessed price rallies, resulting to a further increase in the All-Share Index (ASI) by 0.16 per cent.
Specifically, at the close of transactions yesterday at the Nigeria Stock Exchange (NSE), the ASI increased by 40.10 absolute points or 0.16 per cent rise to close at 24,882.04 points. Similarly, the overall market capitalisation gained N21 billion to close at N12.980 trillion.
The upturn was impacted by gains recorded in large and medium capital stocks, including 11 Plc, Stanbic IBTC Holdings, Chemical and Allied Products (CAP), Presco and Guaranty Trust Bank.
Analysts at Afrinvest Limited, said: “For the rest of the week, we expect market performance to move in tandem with the trend in earnings releases.”
Market sentiment, as measured by the market breadth, was positive, as 18 stocks gained relative to 12 losers. CAP recorded the highest price gain of 9.74 per cent to close at N16.90 per share.
UACN Property Development Company followed with 9.52 per cent to close at 92 kobo, and GlaxoSmithKline Consumer Nigeria rose 6.19 per cent to close at N5.15, per share.
Neimeth International Pharmaceuticals advanced 5.42 per cent to close at N1.75, while Transnational Corporation of Nigeria (Transcorp) garnered 5.08 per cent to close at 62 kobo, per share.
On the other hand, Eterna led the losers’ chart by nine per cent to close at N1.82 per share. Livestock Feeds followed with 4.62 per cent to close at 62 kobo, and Mutual Benefits Assurance lost 4.55 per cent to close at 21 kobo, per share.
Lasaco Assurance shed four per cent to close at 24 kobo, while May and Baker Nigeria slipped 3.33 per cent to close at N2.90, per share.
Meanwhile, transactions in the shares of UAC of Nigeria (UACN) topped the activity chart with 81.741 million shares valued at N471.542 million.
FBN Holdings (FBNH) followed with 66.441 million shares worth N334.161 million, while Access Bank traded 59.195 million shares valued at N378.756 million.
Zenith Bank traded 30.793 million shares at N521.19 million, and Presco transacted 26.156 million shares worth N1.256 billion.
Investors traded 383.289 million shares worth N3.893 billion, in contrast to a total of 154.467 million shares valued at N1.458 billion in the previous trading session.