Bullish Trading Continues As Equities Investors Reap N199bn

The domestic stock market yesterday  sustained the Santa Claus rally crossing the 50,000 psychological mark and gaining N199 billion.

The All Share Index (ASI) rose by 365.40 absolute points, representing a gain of 0.73 per cent to close at 50,300.00 points. Accordingly, investors gained N199 billion in value as market capitalisation went up to N27.397 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Seplat Energy, Geregu Power, Nigerian Breweries and Julius Berger.

As measured by market breadth, market sentiment was positive, as 37 stocks gained relative to nine losers. Nestle Nigeria and Geregu Power recorded the highest price gain of 10 per cent each to close at N1,100.00 and N139.70 respectively, while McNichols followed with a gain 9.62 per cent to close at 57 kobo, per share.

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Computer Warehouse Group went up by 9.52 per cent to close at 92 kobo, while Royal Exchange appreciated by 9.35 per cent to close at N1.17, per share. On the other hand, Livestock Feeds led the losers’ chart by 8.40 per cent to close at N1.09, per share. FBN Holdings (FBNH)  followed with a decline of 6.36 per cent to close at N11.05, while Vitafoam Nigeria went down by 5.92 to close at N20.65, per share.

Unilever Nigeria lost 2.54 per cent to close at N11.50, while Fidelity Bank shed 1.94 per cent to close at N4.56, per share.

The total volume traded declined by 40.3 per cent to 490.484 million units, valued at N7.748 billion, and exchanged in 4,480 deals.

Transactions in the shares of FBNH topped the activity chart with 271.364 million shares valued at N3.202 billion. Guaranty Trust Holding Company (GTCO) followed with 38.530 million shares worth N922.553 million, while Zenith Bank traded 19.642 million shares valued at N486.572 million.

AIICO Insurance traded 17.472 million shares valued at N9.970 million, while Consolidated Hallmark Insurance  transacted 13.924 million shares worth N9.093 million.