Equities Market Gains N103bn

Nigerian equities yesterday extended the bullish run with a gain of N103 billion as gains in Nigerian Breweries Plc and 25 others boosted market performance.

The All Share Index (ASI) rose by 188.04 points, representing a gain of 0.36 per cent to close at 52,419.33 points. Also, market capitalisation gained N103 billion to close at N28.543 trillion.

The uptrend was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, Guaranty Trust Holding Company (GTCO), Nigerian Aviation Handling Company (NAHCO), PZ Cussons Nigeria and Zenith Bank.

As measured by market breadth, market sentiment was positive as 26 stocks gained relative to 19 losers. Nigerian Breweries recorded the highest price gain of 9.97 per cent to close at N35.30, per share. FTN Cocoa Processors followed with a gain of 9.68 per cent each to close at 34 kobo, while Sovereign Trust Insurance rose by 9.52 per cent to close at 46 kobo, per share.

Cornerstone Insurance went up by 8.82 per cent to close at 74 kobo, while Transnational Corporations (Transcorp) appreciated by 7.75 per cent to close at N3.06, per share. On the other hand, CWG led the losers’ chart by 9.63 per cent, to close at N1.69, per share. Courteville Business Solutions followed with a decline of 6.52 per cent to close at 43 kobo, while Ardova declined by 6.06 per cent to close at N24.80, per share.

Glaxosmithkline Consumer Nigeria depreciated by 4.41 per cent to close at N6.50, while Royal Exchange declined by 4.00 per cent to close at 48 kobo, per share.

The total volume traded declined by 7.91 per cent to 576.851 million units, valued at N6.790 billion, and exchanged in 6,143 deals. Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 94.308 million shares valued at N795.905 million.

Transcorp followed with 86.421 million shares worth N261.680 million, while Access Holdings traded 62.423 million shares valued at N635.674 million.

Zenith Bank traded 57.386 million shares valued at N1.404 billion, while FBN Holdings (FBNH) sold 47.435 million shares worth N571.491 million.