Equities market appreciates by N12bn over gains in large/medium capitalised stocks

Equities trading at the Nigerian Exchange Limited (NGX) on Thursday posted its first gain this week as capitalisation gained by N12 billion.

In summary, the All-Share Index (ASI) grew by 7.19 basis points or 0.01 per cent to close at 51,563.73 basis points. Similarly, the overall market capitalisation value gained N12 billion to close at N27.807 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are Nigerian Aviation Handling Company (NAHCO), Julius Berger, Champion Breweries, Honeywell Flour Mills and Access Holdings.

The market breadth closed positive as 15 stocks gained relative to 10 stocks that declined.

Academy Press recorded the highest price gain of 9.55 per cent to close at N1.72 per share. NAHCO followed with a gain of 9.41 per cent to close at N9.30, while FTN Cocoa processors gained 9.38 per cent to close at 35 kobo per share.

Honeywell Four Mills appreciated by 8.39 per cent to close at N2.97, while Ikeja Hotels rose by 8.20 per cent to close at N1.32 per share.

On the other hand, R.T. Briscoe Nigeria led the losers’ chart by 8.11 per cent to close at 34 kobo per share. UACN Property Development Company (UPDC) followed with a decline of 7.87 per cent to close at N1.17 while Regency Alliance Insurance shed 7.14 per cent to close at 25 kobo per share.

Japaul Gold and Ventures depreciated by 3.45 per cent to close at 28 kobo, while FBN Holdings (FBNH) dipped by 3.20 per cent to close at N10.60 per share.

Meanwhile the total volume of trades rose by 5.94 per cent to 143.288 million units, valued at N1.756 billion, and exchanged in 3,874 deals. Transactions in the shares of Jaiz Bank topped the activity chart with 42.104 million shares valued at N36.608 million.

Guaranty Trust Holding Company (GTCO) followed with 19.451 million shares worth N396.761 million, while Sterling Bank traded 9.414 million shares valued at N14.080 million.

United Bank for Africa (UBA) traded 6.868 million shares valued at N51.370 million, while NAHCO transacted 5.175 million shares worth N46.141 million.

Analysts at GTI Securities Limited said: “Stock  market closed transactions for yesterday flat, as bargain hunting and indecisiveness continues to trail the market. We expect cautious trading to continue throughout the week.”