Equities Post Rebound, Gains N126bn  

Recovering from the previous session’s loss, the domestic equities market yesterday posted gains by N126 billion on renewed demand for index heavyweight, Airtel Africa Plc and 27 others.

Accordingly, the All Share Index (ASI) gained by 232.14 points, representing a growth of 0.42 per cent to close at 56,038.85 points. Also, market capitalisation gained N126 billion to close at N30.513 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Airtel Africa, Conoil, Stanbic IBTC Holdings, Eterna and Transcorp Hotel.

As measured by market breadth, market sentiment was positive, as 28 stocks gained relative to 24 losers. E-Tranzact International recorded the highest price gain of 10 per cent to close at N4.40, while Eterna followed with a gain of 9.85 per cent to close at N12.15, per share.

Pharma-Deko and Cornerstone Insurance gained 9.52 per cent each to close at N2.07 and 92 kobo respectively, while FTN Cocoa processors rose by 9.23 per cent to close at 71 kobo, per share.

On the other hand, John Holt led the losers’ chart by 9.88 per cent, to close at N1.55, per share. Multiverse Mining and Exploration followed with a decline of 9.54 per cent to close at N3.70, while Chellarams declined by 9.52 per cent to close at N1.33, per share.

Omatek Ventures depreciated by 9.09 per cent to close at 20 kobo, while SUNU Assurance declined by 8.33 per cent to close at 44 kobo, per share.

Meanwhile, the total volume traded decreased by 12.79 per cent to 322.495 million units, valued at N5.824 billion, and exchanged in 6,165 deals.

Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 47.126 million shares valued at N442.314 million.

Access Holdings followed with 39.911 million shares worth N501.775 million, while Guaranty Trust Holding Company (GTCO) traded 30.225 million shares valued at N846.875 million.

Fidelity Bank traded 23.775 million shares valued at N137.278 million, while Japaul Gold & Ventures sold 16.841 million shares worth N6.732 million.