Renewed interest in Julius Berger, 26 stocks lifts capitalisation by N118b

Following renewed investors’ appetite in Julius Berger and 26 stocks, the Nigerian equities market closed in an upbeat yesterday, as the overall capitalisation rose by N118 billion.

Indeed, the All-Share Index (ASI) rose by 204.23 points, representing a gain of 0.21 per cent to close at 96,407.88 points. Also, market capitalisation gained N118 billion to end the day at N55.379 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are Julius Berger Nigeria, Oando, Eterna, International Breweries and R.T. Briscoe Nigeria.

On market outlook, analysts at SCM Capital Research, said: “We foresee a mixed trading week, and advise investors to invest in high-quality stocks with strong fundamentals backing them.”

As measured by market breadth, market sentiment ended positive, as 27 stocks gained relative to 23 losers. Oando emerged the highest price gainer of 9.98 per cent to close at N69.95 kobo. Julius Berger Nigeria followed with a gain of 9.97 per cent to close at N172.60 kobo, while Cornerstone Insurance advanced by 9.88 per cent to close at N2.78 kobo.

Eterna rose by 9.86 per cent to close at N30.65 kobo while DAAR Communications also appreciated by 9.84 per cent to close at 67 kobo. On the other side, SCOA Nigeria led others on the losers’ chart with 9.79 per cent to close at N1.75 kobo. Japaul Gold & Ventures followed with a decline of 7.41 per cent to close at N2.50 kobo while Tantalizer shed 6.76 per cent to close at 69 kobo.

Fidson Healthcare lost 5.45 per cent to close at N13, while Prestige Assurance depreciated by 5.26 per cent to close at 54 kobo. Also, the total volume traded increased by 113.19 per cent to 966.973 million units, valued at N7.420 billion, and exchanged in 9,851 deals.

Transactions in the shares of Consolidated Hallmark Holdings led the activity with 505.789 million shares worth N673.41 million. FBN Holdings (FBNH) followed with account of 64.091 million shares valued at N1.411 billion, while Access Holdings traded 46.886 million shares valued at N890.331 million. Prestige Assurance traded 26.181 million shares worth N14.277 million, while Universal Insurance traded 23.317 million shares worth N8.493 million.