Stock Market Gains 0.49%

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The Nigerian stock market yesterday gained 0.49 per cent to start the week on a positive note.

At the end of the day, the All-Share Index (ASI) gained 123.05 absolute points, representing a growth of 0.49 per cent to close at 25,250.37 points. Similarly, the market capitalization gained N43 billion to close at N8.781 trillion.

The upturn was largely boosted by value appreciation recorded in some medium and large capitalised stocks, amongst which are; Seplat, UACN, Guaranty Trust Bank, Unilever Nigeria, Nigerian Breweries, Zenith Bank and Presco.

Market breadth closed on the same length recording 17 gainers and losers. Honeywell Flour recorded the highest price gain of five per cent, to close at N1.05 per share. Seplat followed with a gain of 4.86 per cent to close at N388, while UACN appreciated by 3.17 per cent to close at N13 per share.

Livestock went up by 2.67 per cent to close at 77 kobo, while Guaranty Trust Bank appreciated by 2.37 per cent  to close at N24.62 per share.

On the other hand, Seven Up led the losers’ chart by 6.10 per cent, to close at N100 per share. NPF Micro Finance Bank shed 5.08 per cent to close at N1.12, while Cadbury declined by five per cent to close at N8.55  per share.

UPL depreciated by 4.95 per cent to close at N4.03 and Vitafoam declined by 4.65 per cent each to close at N1.64 per share.

Meanwhile, the total volume traded went down marginally by 1.76 per cent to 254.75 million shares, valued at N2.54 billion, and traded in 3,373 deals. Transactions in the shares of Zenith Bank topped the activity chart with 69.11 million shares valued at N1.04 billion. Unic Insurance followed with 62.3 million shares worth N31.27 million, while Cornerstone Insurance traded 22.18 million shares valued at N11.21 million.

UBA traded 19.57 million shares worth N95.96 million, while United Capital sold 12.05 million shared valued N43.69 million.

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