Investors wealth appreciates further by N140b
Transactions on the Nigerian Stock Exchange (NSE) sustained a rising profile yesterday, as more blue-chip stocks joined the league of gainers, boosting investors’ wealth by N140 billion.
At the close of trading, the All-Share Index (ASI) increased by 267.93 absolute points, representing a growth of 0.76 per cent to close at 35,493.15 points. Similarly, the market capitalisation gained N140 billion to close at N18.551 trillion.
The upturn was impacted by gains in medium and large capitalised stocks, amongst which were Nestle Nigeria, Flour Mills of Nigeria, Guinness Nigeria, Zenith Bank, and Guaranty Trust Bank.
Analysts at Afrinvest Limited said: “We expect the equities market to maintain its bullish performance, given that current prices present attractive investment opportunities.”
Market sentiment, as measured by market breadth, was positive as 26 stocks gained, relative to 13 losers.
AXA Mansard Insurance recorded the highest price gain of 10 per cent to close at 77 kobo. May and Baker Nigeria followed with a gain of 9.89 per cent to close at N3.89 kobo. NCR Nigeria rose by 9.60 per cent to close at N2.17 kobo.
University Press went up by 9.52 per cent, to close at N1.38 kobo while Unity Bank appreciated by 8.06 per cent to close at 67 kobo.
On the flip side, Cornerstone Insurance led the losers’ chart with 8.33 per cent to close at 55 kobo while Linkage Assurance followed with a decline of 8.16 per cent, to close at 45 kobo.
Lasaco Assurance shed 6.06 per cent to close at 31 kobo. Associated Bus Company shed 5.71 per cent to close at 33 kobo. Chams also depreciated by 4.55 per cent to close at 21 kobo.
The volume of shares traded increased by 146.2 per cent to 650.549 million shares, worth N2.287 billion, and traded in 3,952 deals.
Transactions in the shares of Zenith Bank topped the activity chart with 40.575 million shares valued at N999.271 million.
Jaiz Bank followed with 414.977 million shares worth N216.963 million, while AXA Mansard Insurance traded 22.328 million shares valued at N17.193 million.
Skyway Aviation Handling Company traded 19.000 million shares valued at N50.630 million, while Access Bank transacted 15.751 million shares worth N130.348 million.