Equities Market Sustains Uptrend, Gains N2bn

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On the heels of the Monetary Policy Committe (MPC) decision to maintain status quo on all principal benchmarks at its September meeting, the Nigerian equity market  yesterday consolidated on previous day uptrend with a marginal growth of 0.02 per cent.

In summary, lead indicator, the All Share Index gained 4.64 absolute points, representing an appreciation of 0.02 per cent to close at 28,214.57 points. Similarly, the market capitalization gained N2 billion to close at N9.69 trillion.

The upturn was mostly imparted by value appreciation recorded in the following large capitalised stocks, Conoil, MRS, Total, PZ Industries and Cadbury.

Market breadth was positive, with 22 gainers versus 13 losers. Conoil recorded the highest price gain of 10.11 per cent, to close at N42.60 per share. PZ Industries gained 4.98 per cent to close at N18.97, while Oando appreciated  by 4.87 per cent to close at N5.34 per share.

Wema Bank went up by 4.84 per cent to close at 62 kobo, while May and Baker appreciated by 4.30 per cent  to close at 93 kobo per share.

On the other hand, Neimeth led the losers’ chart by 9.26 per cent, to close at 98 kobo per share. Guinness shed 7 per cent each to close at N93, while ETranzact depreciated by 5 per cent to close at N5.70 per share.

Paintcom down by 4.04 per cent to close at 95 and Skye Bank went down by 3.08 to close at 63 kobo per share.

Total volume traded appreciated by 1,234 per cent to 3.096 billion shares, worth N6.24 billion, and traded in 2,815 deals.

Transactions in the shares of Great Nigerian Insurance topped the activity chart with 2.87 billion shares valued at N3.24 billion. Zenith Bank followed with 51.23 million shares worth N752.7 million, while UBA traded 23.56 million shares valued at N101.31 million.

Guaranty Trust Bank traded 21.45 million shares valued at N577.21 million, while FCMB transacted 20.99 million shares worth N20.82 million.

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