Equities Post Rebound, Gain N9bn In Bullish Run

The domestic equities market yesterday closed northward with a gain of N9 billion, buoyed by price uptick in Lafarge Africa Plc and 23 others.

Accordingly, the All Share Index (ASI) gained by 13.61 points, representing a growth of 0.01 per cent to close at 97,639.88 points. Also, market capitalisation gained N9 billion to close at N59.178 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Lafarge Africa, Flour Mills Nigeria, NASCON Allied Industries, Stanbic IBTC Holdings and UACN.

Also, investor sentiment, as measured by market breadth, slightly declined as 24 stocks advanced, while 25 declined. Haldane McCall recorded the highest price gain of 9.98 per cent to close at N6.17, per share. SUNU Assurance followed with a gain of 9.80 per cent to close at N3.81, while Japaul Gold & Ventures rose by 9.72 per cent to close at N2.37, per share.

Prestige Assurance appreciated by 9.64 per cent to close at 91 kobo, while NEIMETH International Pharmaceuticals rose by 9.55 per cent to close at N2.18, per share.

On the other hand, Multiverse Mining and Exploration led the losers’ chart by 9.92 per cent, to close at N5.90, per share. Tantalizers followed with a decline of 9.30 per cent to close at N1.17, while UPDC Real Estate Investment Trust declined by 9.01 per cent to close at N5.05, per share.

Universal Insurance depreciated by 5.88 per cent to close at 32 kobo, while RT Briscoe Nigeria declined by 5.67 per cent to close at N2.66, per share.

However, the total volume traded decreased by 17.75 per cent to 552.110 million units, valued at N8.031 billion, and exchanged in 9,305 deals.

Transactions in the shares of Haldane McCall topped the activity chart with 177.113 million shares valued at N1.093 billion. Tantalizers followed with 36.987 million shares worth N46.652 million, while United Bank for Africa (UBA) traded 29.599 million shares valued at N947.307 million.

Prestige Assurance traded 28.585 million shares valued at N25.581 million, while FBNH Holdings (FBNH) sold 21.500 million shares worth N536.214 million.