Equities market gains N155bn  to commence new week on positive note

The equities market on Monday gained N155billion following stock price appreciation in BUA Cement Plc and 23 others.

The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 244.53 basis points or 0.17 per cent to close at 142,377.56 basis points. Also, market capitalisation rose by N155 billion to close at N90.115 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, MTN Nigeria Communications (MTNN), Eterna, Eunisell Interlinked and Fidson Healthcare.

Despite the index gain, market sentiment was bearish with 36 declining stocks outnumbering 24 gainers. Thomas Wyatt Nigeria recorded the highest price gain of 10 per cent to close at N3.63, per share.  Living Trust Mortgage Bank followed with a gain of 9.90 per cent to close at N5.66, while Eterna rose by 9.86 per cent to close at N30.65, per share.

Caverton Offshore Support Group increased by 9.28 per cent to close at N6.83, while Fidelity Bank up by 8.13 per cent to close at N19.95, per share.

On the other hand, AXA Mansard Insurance led the losers’ chart by 10 per cent to close at N14.40, per share. University Press followed with a decline of 9.85 per cent to close at N5.40, while Learn Africa declined by 9.72 per cent to close at N6.50, per share.

Julius Berger depreciated by 8.70 per cent to close at N136.50, while Cornerstone Insurance declined by 7.42 per cent to close at N5.86, per share.

Meanwhile, the total volume traded declined by 25.97 per cent to 383.945 million units, valued at N11.618 billion, and exchanged in 28,114 deals. Transactions in the shares of First Holdco topped the activity chart with 47.494 million shares valued at N1.472 billion. Ellah Lakes followed with 24.462 million shares worth N290.869 million, while Veritas Kapital Assurance traded 21.872million shares valued at N44.660 million.

Zenith Bank traded 18.746 million shares valued at N1.307 billion, while Chams Holding Company sold 16.164 million shares worth N56.563 million.