37 Stocks Drive Market Up By N360bn

The Nigerian stock market ended yesterday’s trading session higher by N360 billion, driven by price upticks in Aradel Holdings Plc and 36 others.

The All Share Index (ASI) gained 569.25 points, representing a growth of 0.41 per cent, to close at 140,365.36 points. Also, market capitalisation rose by N360 billion to close at N88.813 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Aradel Holdings, Lafarge Africa, Dangote Cement, Unilever Nigeria and Berger Paints.

Market sentiment stayed robust, as indicated by a positive breadth with 37 stocks advancing compared to 26 decliners. Chellarams and FTN Cocoa Processors recorded the highest price gain of 10 per cent each to close at N12.10 and N5.94 respectively, while Berger Paints followed with a gain of 9.86 per cent to close at N39.00, per share.

Sunu Assurance appreciated by 8.91 per cent to close at N5.99, while Livestock Feeds up by 8.11 per cent to close at N8.00, per share.

On the other hand, May & Baker Nigeria led the losers’ chart by 9.97 per cent to close at N16.25, per share. Union Dicon Salt followed with a decline of 9.72 per cent to close at N9.75, while C&I Leasing declined by 7.69 per cent to close at N6.00, per share.

Thomas Wyatt Nigeria depreciated by 7.04 per cent to close at N2.51, while Deap Capital Management & Trust declined by 6.52 per cent to close at N1.72, per share.

Also, the total volume traded rose 16.47 per cent to 767.726 million units, valued at N40.642 billion, and exchanged in 24,837 deals. Transactions in the shares of FCMB Group topped the activity chart with 287.768 million shares valued at N3.108 billion. Nigerian Breweries followed with 50.458 million shares worth N3.532 billion, while Aradel Holdings traded 43.432 million shares valued at N23.009 billion.

Access Holdings traded 40.278 million shares valued at N1.059 billion, while Zenith Bank sold 29.059 million shares worth N1.917 billion.