Investors’ renewed appetite for stocks lifts indices by N17b

Investors’ renewed appetite in some blue-chip stocks spurred transactions on the equities sector of the Nigerian Stock Exchange (NSE), as market capitalisation appreciated further by N17 billion.

Yesterday, the All Share Index (ASI) increased by 34.40 absolute points, representing an appreciation of 0.13 per cent to close at 26,824.50 points. Similarly, the market capitalisation rose by N17 billion to close at N12.947 trillion.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Cadbury Nigeria, Glaxo Smithkline Consumer Nigeria, UAC of Nigeria (UACN), FBN Holdings and Oando.

Market breadth closed positive, with 19 gainers versus 13 losers. Cadbury Nigeria recorded the highest price gain of 10 per cent, to close at N9.90, per share.

Cutix followed with a gain 9.72 per cent to close at N1.58, while Glaxo Smithkline Consumer Nigeria rose by 9.65 per cent to close at N6.25, per share.

Union Diagnostic & Clinical Services went up by 9.09 per cent to close at 24 kobo, while UACN appreciated by 7.14 per cent to close at N7.50, per share.

On the other hand, C&I Leasing led the losers’ chart by 9.85 per cent, to close at N5.95, per share. Jaiz Bank followed with a decline of 8.70 per cent to close at 63 kobo, while Livestock Feeds lost 7.27 per cent to close at 51 kobo, per share.

Afromedia lost 5.56 per cent to close at 34 kobo, while Dangote Sugar Refinery shed 4.83 per cent each to close at N13.80, per share.

The total volume traded rose by 60.02 per cent to 303.82 million shares, worth N1.72 billion, and traded in 3,151 deals. Transactions in the shares of Law Union & Rock Insurance topped the activity chart with 151.70 million shares valued at N91.32 million.

United Bank for Africa followed with 20.36 million shares worth N142.61 million, while Access Bank traded 12.37 million shares valued at N111.67 million.

Mutual Benefits Assurance traded 11.09 million shares valued at N2.23 million, while Zenith Bank transacted 10.37 million shares worth N193.13 million.