Stock Market Gains N217bn On Renewed Bargain Interest

The Nigerian stock market yesterday closed on a positive side with a gain of N217 billion stemming from renewed positive sentiment in Aradel Holdings Plc and 31 others.

The All-Share Index rose by 357.62 points, representing a gain of 0.40 per cent, to close at 96,924.86 points. Similarly, the overall market capitalisation value gained N217 billion to close at N58.732 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Aradel Holdings, Conoil, Oando, Nigerian Aviation Handling Company (NAHCO) and Eunisell Interlinked.

As measured by market breadth, market sentiment closed positive, as 32 stocks gained relative to 17 losers. Conoil and Aradel Holdings recorded the highest price gain of 10 per cent each to close at N236.50 and N441.20 respectively, while Eunisell Interlinked followed with a gain of 9.92 per cent to close at N8.20, per share.

John Holt appreciated by 9.77 per cent to close at N4.38, while Thomas Wyatt Nigeria gained 9.71 per cent to close at N1.92, per share.

On the other hand, Tantalizer led the losers’ chart by 6.25 per cent to close at 60 kobo per share. Nigerian Exchange Group followed with a decline of 5.81 per cent to close at N23.50, while Wema Bank lost 5.63 per cent to close at N7.55, per share.

RT Briscoe Nigeria declined 4.46 per cent to close at N3.00, while FCMB Group shed 3.59 per cent to close at N9.40, per share.

The total volume traded declined by 77.95 per cent to 744.537 million units, valued at N16.478 billion, and exchanged in 9,700 deals. Transactions in the shares of Consolidated Hallmark Holdings topped the activity chart with 124.832 million shares valued at N245.795 million. Japaul Gold & Ventures followed with 105.929 million shares worth N224.099 million, while Ellah Lakes traded 92.002 million shares valued at N327.640 million.

FBN Holdings (FBNH) traded 70.599 million shares valued at N1.927 billion, while Oando transacted 57.163 million shares worth N3.594 billion.