Investors in Nigerian’s equities market gains N1.18trn
Investor appetite for cement and banking stocks sustained the uptrend in the equities market yesterday, with the overall capitalization advancing by N1.18 trillion.
The All-Share Index (ASI) gained 1,523.59 points, representing a gain of 0.62 per cent to close at 246,315.38 points. Also, market capitalisation rose by N1.18 trillion to close at N159.892 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Beta Glass, BUA Cement, First Holdco, Fidson Healthcare and May & Baker Nigeria.
Looking ahead, Cowry Assets Management Limited said, “the market is expected to sustain its bullish trend as investor sentiment tilts increasingly positive, though residual profit-taking activity could temper the pace of any recovery.”
As measured by market breadth, market sentiment was positive, as 33 stocks gained relative to 23 losers. Beta Glass, Consolidated Hallmark Holdings and BUA Cement emerged the highest price gainer of 10 per cent each to close at N511.50, N7.37 and N297.00 respectively, per share.
Royal Exchange followed with a gain of 9.89 per cent to close at N1.00, while Sovereign Trust Insurance rose by 9.77 per cent to close at N2.36, per share.
On the other side, Transcorp Power led the losers’ chart with 9.97 per cent to close at N197.70, per share. Legend Internet followed with a decline of 9.88 per cent to close at N3.65, while Omatek Ventures down by 9.66 per cent to close at N1.31, per share.
LivingTrust Mortgage Bank depreciated by 8.45 per cent to close at N2.60, while International Breweries dipped by 5.94 per cent to close at N10.30, per share.
The total volume traded advanced by 67.8 per cent to 1.11 billion units, valued at N46.02 billion, and exchanged in 54,102 deals. Transactions in the shares of Fidelity Bank led the activity with 524.333 million shares worth N10.302 billion. Mutual Benefits Assurance followed with account of 80.905 million shares valued at N266.699 million, while Zenith Bank traded 78.558 million shares valued at N10.099 billion.
Sterling Financial Holding Company traded 75.824 million shares worth N572.721 million, while Access Holdings traded 44.730 million shares worth N1.281 billion.
