Investors’ appetite in Julius Berger, Ardova others lift indices further by N13b

For the seventh consecutive session of gain, the Nigerian Exchange Limited sustained gains, occassioned by investors increased appetite in the shares of Julius Berger and Ardova Plc, causing market capitalisation to increse further by N13 billion.

Specifically, at the close of transactions yesterdaty, the All Share Index (ASI) rose by 24.00 points, representing an increase of 0.05 per cent to close at 49,499.43 points. While the overall market capitalisation value gained N13 billion to close at N26.961 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Julius Berger Nigeria, Ardova Plc, Stanbic IBTC Holdings, FBN Holdings (FBNH) and Champion Breweries.

Analysts at Vetiva Dealings and Brokerage said: “With four sessions left to close out the year, we expect another mixed day of trading tomorrow, as investors continue to cherry-pick counters across board. “

Market sentiment, as measured by market breadth was positive as 17 stocks gained, relative to 14 decliners. Julius Berger Nigeria recorded the highest price gain of 9.91 per cent to close at N23.30 kobo. Champion Breweries followed with a gain 9.30 per cent to close at N4.70 kobo while Ardova Plc rose by 9.20 per cent to close at N19.

Thomas Wyatt Nigeria went up by 8.82 per cent to close at 74 kobo, while Japaul Gold & Ventures appreciated by 7.69 per cent to close at 28 kobo. Academy Press gained 7.44 per cent to close at N1.30kobo. Royal Express appreciated by 5.38 per cent to close at 98 kobo. Chams 4.05 per cent to close at 23 kobo. FBN Holdings garnered 4.05 per cent to close at N11.55 kobo. Stanbic IBTC also increased by 3.90 per cent to close at N32.

On the other hand, UPDC Real Estate Investment Trust led the losers’ chart by 6.45 per cent to close at N2.90 kobo.

Lasaco Assurance followed with a decline of 5.56 per cent to close at 85 kobo, while University Press depreciated by 5.26 per cent to close at N1.80, per share.
Wapic Insurance declined by 5.00 per cent to close at 38 kobo, while Jaiz Bank depreciated by 2.35 per cent to close at 83 kobo.

However, the total volume of trades decreased by 67.76 per cent to 132.571 million units, valued at N3.144 billion, and exchanged in 2,999 deals. Transactions in the shares of FBNH topped the activity chart with 29.101 million shares valued at N331.220 million. Sterling Bank followed with 18.387 million shares worth N25.019 million.

Nigerian Breweries traded 10.503 million shares valued at N394.985 million.
Guaranty Trust Holding Company (GTCO) traded 6.642 million shares valued at N147.040 million, while Fidelity Bank transacted 5.425 million shares worth N24.144 million.