Investors’ appetite for bellwethers lift NSE’s index by N122b

Investors’ appetite in bellwether stocks lifted transactions on the equities sector of the Nigerian Stock Exchange (NSE), causing market capitalisation to appreciate N122billion.
   
Specifically, at the close of transactions, yesterday, the All-Share Index (ASI) increased by 233.66 absolute points, or 0.93 per cent to close at 25,249.96 points. Similarly, investors gained N122billion as market capitalisation increased to N13.172trillion.
   
The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which were; MTN Nigerian Communications (MTNN), BUA Cement, Nigerian Breweries, UAC of Nigeria (UACN), and Vitafoam Nigeria.

Analysts at Afrinvest Limited expect a mixed performance for the week, as the market presents opportunities for bargain-hunting and profit-taking.
   
Market sentiment, as measured by market breadth, was positive, as 31 tickers gained, relative to 11 decliners. Wapic Insurance recorded the highest price gain of 10 per cent to close at 33 kobo per share. Fidson Healthcare followed with 9.80 per cent to close at N3.25, and Associated Bus Company rose 9.76 per cent to close at 45 kobo, per share.
   
Neimeth International Pharmaceuticals gained 9.60 per cent to close at N1.94, while Consolidated Hallmark Insurance appreciated 9.52 per cent to close at 46 kobo, per share.
 
On the other hand, Japaul Oil & Maritime Services led the losers’ chart by 10 per cent to close at 27 kobo, per share. Cornerstone Assurance followed with 9.09 per cent to close at 50 kobo, and Chams dipped 7.41 per cent to close at 25 kobo, per share.
     
Transnational Corporation of Nigeria (Transcorp) lost 5.19 per cent to close at 73 kobo, while Courteville Business Solutions shed 4.76 per cent to close at 20 kobo, per share.
   
The total volume of trades rose by 7.5 per cent to 230.492 million units valued at N2.166billion, exchanged in 4,621 deals. Transactions in the shares of FBN Holdings topped the activity chart with 34.502 million shares worth tN188.347million.
 
Guaranty Trust Bank followed with 22.882 million shares at N550.138million, and Japaul Oil & Maritime Services traded 21.214 million shares worth N6.368million.
   
United Bank for Africa traded 19.538 million shares valued at N131.951million, while Zenith Bank transacted 19.273 million shares worth N327.059million.