NB, other stocks raise investors’ wealth by N103 billion

Positive sentiments persisted in the equities sector of the Nigerian Exchange Limited (NGX) as more blue-chip stocks, especially Nigerian Breweries and Guaranty Trust Holding Company (GTCO), joined the league of gainers yesterday, raising investors’ fortune by N103 billion.

At the close of trading, the all-share index (ASI) rose by 188.04 points, representing a gain of 0.36 per cent to close at 52,419.33 points.

Also, market capitalisation gained N103 billion to close at N28.543 trillion.

The uptrend was impacted by gains recorded in medium and large capitalised stocks, amongst which are: Nigerian Breweries, GTCO, Nigerian Aviation Handling Company (NAHCO), PZ Cussons Nigeria, and Zenith Bank.

Analysts at Vetiva Dealings and Brokerage said: “We still expect mixed trading in the market, as investors continue to bargain hunt, while activity in the banking sector remains elevated.”

SCM Capital said: “We expect sentiments to remain upbeat as the market remains attractive to investors amid the declining yield environment.”

Market sentiment was positive as 26 stocks gained relative to 19 losers. Nigerian Breweries recorded the highest price gain of 9.97 per cent to close at N35.30 kobo. FTN Cocoa Processors followed with a gain of 9.68 per cent each to close at 34 kobo, while Sovereign Trust Insurance rose by 9.52 per cent to close at 46 kobo.

Cornerstone Insurance went up by 8.82 per cent to close at 74 kobo, while Transnational Corporations (Transcorp) appreciated by 7.75 per cent to close at N3.06 kobo.

Mansard added 6.4 per cent to close at N2.66 kobo. Jaiz Bank appreciated by 5.9l38 per cent to close at 98 kobo.PZ Cussons also added 4.40 kobo to close at N13.05 kobo.

On the other hand, CWG led the losers’ chart by 9.63 per cent, to close at N1.69 kobo.

Courteville Business Solutions followed with a decline of 6.52 per cent to close at 43 kobo while Ardova declined by 6.06 per cent to close at N24.80 kobo.

Glaxosmithkline Consumer Nigeria depreciated by 4.41 per cent to close at N6.5, while Royal Exchange declined by 4.00 per cent to close at 48 kobo.

The total volume traded declined by 7.91 per cent to 576.851 million units, valued at N6.79 billion, and exchanged in 6,143 deals. Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 94.308 million shares valued at N795.905 million.

Transcorp followed with 86.421 million shares worth N261.68 million, while Access Holdings traded 62.423 million shares valued at N635.674 million.

Zenith Bank traded 57.386 million shares valued at N1.404 billion, while FBN Holdings (FBNH) sold 47.435 million shares worth N571.491 million.