Bulls Regain Control On Stock Market, Gains N118bn

Nigerian equities yesterday delivered a positive performance as the overall capitalisation rose by N118 billion, reflecting renewed investors optimism.

The All-Share Index (ASI) rose by 204.23 points, representing a gain of 0.21 per cent to close at 96,407.88 points. Also, market capitalisation gained N118 billion to close at N55.379 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Julius Berger Nigeria, Oando, Eterna, International Breweries and R.T. Briscoe Nigeria.

As measured by market breadth, market sentiment closed positive, as 27 stocks gained relative to 23 losers. Oando emerged the highest price gainer of 9.98 per cent to close at N69.95, per share. Julius Berger Nigeria followed with a gain of 9.97 per cent to close at N172.60, while Cornerstone Insurance advanced by 9.88 per cent to close at N2.78, per share.

Eterna rose by 9.86 per cent to close at N30.65, while DAAR Communications appreciated by 9.84 per cent to close at 67 kobo, per share.

On the other side, SCOA Nigeria led others on the losers’ chart with 9.79 per cent to close at N1.75, per share. Japaul Gold & Ventures followed with a decline of 7.41 per cent to close at N2.50, while Tantalizer shed 6.76 per cent to close at 69 kobo, per share.

Fidson Healthcare lost 5.45 per cent to close at N13.00, while Prestige Assurance depreciated by 5.26 per cent to close at 54 kobo, per share.

Also, the total volume traded increased by 113.19 per cent to 966.973 million units, valued at N7.420 billion, and exchanged in 9,851 deals.

Transactions in the shares of Consolidated Hallmark Holdings led the activity with 505.789 million shares worth N673.41 million, FBN Holdings (FBNH) followed with account of 64.091 million shares valued at N1.411 billion, while Access Holdings traded 46.886 million shares valued at N890.331 million.

Prestige Assurance traded 26.181 million shares worth N14.277 million, while Universal Insurance traded 23.317 million shares worth N8.493 million.