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Stocks Market Reverses Downtrend, Gains 0.35%



Leadership Nigeria News Today

The Nigerian stocks market, yesterday gained 0.35 per cent to reverse the previous days downtrend, amid renewed bullish activities. In summary, the All Share Index (ASI) gained 95.98 absolute points, representing a growth of 0.35 per cent to close at 27,609.67 points. Similarly, the market capitalisation gained N33 billion, to close at N9.544 trillion.
The upturn was significantly impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nigerian breweries, Nestlé, Okomu Oil, CAP and International Breweries.
Similarly, market breadth closed positive recording 23 gainers against 16 losers. International Breweries recorded the highest price gain of five per cent, to close at N21 per share. Custodian Insurance followed with a gain of 4.89 per cent to close at N3.43, while FCMB Groups appreciated by 4.67 per cent to close at N1.12 per share.
Transcorp rose by 4.59 per cent to close at N1.14, while African Prudential appreciated by 4.53 per cent to close at N2.77 per share. On the other hand, Seplat led the losers’ chart by nine per cent, to close at N325.80 per share. Airline Service followed with a decline of 8.95 per cent to close at N4.07, while Dangote Sugar depreciated by 3.56 per cent, to close at N6.51 per share.
UAC Property went down by 3.41 per cent to close at N1.70, while Jaiz Bank declined by 3.16 per cent to close at 92 kobo per share. However, the total volume traded depreciated by 15.17 per cent to 569.18 million shares, worth N6.68 billion, and traded in 4,632 deals.
Transactions in the shares of Access Bank topped the activity chart 174.87 million shares worth N1.24 billion. Oando followed with account of 60.79 million shares valued at N434.18 million, while UBA traded 50.48 million shares cost N321.39 million. FBN Holdings traded 45.3 million shares valued at N176.48 million, while Fidelity Bank sold 44.58 million shares worth N41.8 million.