Equities Rebound, Gain N19bn

The Nigerian equities market yesterday recovered from the previous sessions’ losses with a gain of N19 billion on investors’ interest in Unilever Nigeria Plc and 23 others.

The All-Share Index rose by 30.40 per cent, representing a gain of 0.03 per cent, to close at 104,560.02 points. Similarly, the overall market capitalisation value gained N19 billion to close at N65.704 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Unilever Nigeria, Custodian, Abbey Mortgage Bank, Access Holdings and Wema Bank.

However, market breadth closed negative, as 24 stocks gained relative to 29 losers. Abbey Mortgage Bank recorded the highest price gain of 9.94 per cent to close at N7.41, per share. Unilever Nigeria followed with a gain of 9.65 per cent to close at N38.05, while Learn Africa appreciated by 8.33 per cent to close at N3.25, per share.

Secure Electronic Technology appreciated by 7.41 per cent to close at 58 kobo, while Consolidated Hallmark Holdings rose by 7.27 per cent to close at N2.95, per share.

On the other hand, Northern Nigeria Flour Mills (NNFM) led the losers’ chart by 9.97 per cent to close at N79.00, per share. The Initiates Plc (TIP) followed with a decline of 9.57 per cent to close at N4.25, while Caverton Offshore Support Group depreciated by 9.06 per cent to close at N2.31, per share.

Wapic Insurance shed 8.85 per cent to close at N2.06, while Guinea Insurance lost 8.70 per cent to close at 63 kobo, per share.

Overall, the total volume of trade decreased by 13.87 per cent to 368.769 million units, valued at N10.871 billion, and exchanged in 13,228 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 47.432 million shares valued at N866.952 million. Access Holdings followed with 28.049 million shares worth N592.210 million, while Zenith Bank traded 23.120 million shares valued at N1.146 billion.

United Bank for Africa (UBA) traded 21.975 million shares valued at N690.492 million, while FCMB Group transacted 20.805 million shares worth N185.119 million.