Gains in bellwethers lift stock market index by 0.66%
Following price gains recorded by most high value stocks, trading on the equities sector of the Nigerian Stock Exchange (NSE), closed upbeat yesterday, as the All-Share Index appreciated 0.66 per cent.
Specifically, at the close of transactions, Tuesday, the All Share Index (ASI), increased by 150.38 absolute points, representing a gain of 0.66 per cent to close at 22,780.30 points.
Similarly, the market capitalisation rose by N78billion to close at N11.872trillion.
The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which were; Lafarge Africa, Zenith Bank, BUA Cement, Guaranty Trust Bank and PZ Cussons Nigeria.
Market breadth closed positive, with 19 gainers versus four losers. NEM Insurance recorded the highest price gain of 10 per cent to close at N2.20 per share. Lafarge Africa followed with 9.66 per cent to close at N11.35, while Livestock Feeds rose 7.69 per cent to close at 70 kobo, per share.
Transnational Corporation of Nigeria (Transcorp) gained 7.35 per cent to close at 73 kobo, and PZ Cussons Nigeria appreciated by 6.25 per cent to close at N4.25, per share.
On the other hand, Skyway Aviation Handling Company led the losers’ chart by 8.16 per cent to close at N1.80, while Union Diagnostic & Clinical Services followed with a decline of 6.45 per cent to close at 29 kobo, per share.
Guinness Nigeria lost 6.40 per cent to close at N19.00, and Caverton Offshore Support Group shed 4.26 per cent to close at N2.25, per share.
However, despite the capital appreciation, total volume traded fell 25.61 per cent to 186.23 million shares worth N1.853 billion, traded in 3,446 deals.
Transactions in the shares of Zenith Bank topped the activity chart with 30.956 million shares valued at N420.527million. FBN Holdings followed with 30.722 million shares worth N130.493million, while Guaranty Trust Bank traded 25.771 million shares at N486.796million
United Bank for Africa (UBA) traded 19.998 million shares valued at N115.539 million, and Lafarge Africa transacted 17.108 million shares worth N192.505 million.