Equities Investors Gain N154bn As Market Rebounds

The Nigerian equities market yesterday  rebounded after prior day’s pullback as the investors’ investment up by N154 billion.

The All Share Index (ASI) rose by 283.27 points, representing an increase of 0.55 per cent to close at 51,729.87 points. While the overall market capitalisation value gained N154 billion to close at N28.176 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, PZ Cussons Nigeria, Champion Breweries, Guaranty Trust Holding Company (GTCO) and Nigerian Exchange Group (NGX Group).

Analysts at GTI Securities Limited said: “we expect positive sentiments to continue as investors take position for the year.”

Market sentiment, as measured by market breadth, was positive as 26 stocks gained, relative to 12 decliners. Thomas Wyatt Nigeria recorded the highest price gain of 9.48 per cent to close at N1.27, per share. Champion Breweries followed with a gain 9.45 per cent to close at N4.75 and FTN Cocoa processors rose by 7.69 per cent to close at 28 kobo, per share.

Mutual Benefits Assurance went up by 6.67 per cent to close at 32 kobo, while Courteville Business Solutions appreciated by 6.52 per cent to close at 49 kobo, per share.

On the other hand, Chellaram led the losers’ chart by 9.89 per cent to close at N1.64, per share. Royal Exchange followed with a decline of 7.41 per cent to close at N1.00, while Wapic Insurance depreciated by 6.67 per cent  to close at 42 kobo, per share.

AXA Mansard Insurance declined by 6.54 per cent to close at N2.00 kobo, while R.T. Briscoe Nigeria depreciated by 3.57 per cent to close at 27 kobo, per share.

The total volume of trades decreased by 16.40 per cent to 281.945 million units, valued at N8.159 billion, and exchanged in 3,679 deals.

Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 108.925 million shares valued at N1.221 billion. BUA Cement  followed with 42.393 million shares worth N4.073 billion, while GTCO traded 233.985 million shares valued at N810.044 million.

Access Holdings traded 13.471 million shares valued at N122.606 million, while Transnational Corporation of Nigeria (Transcorp) transacted 13.418 million shares worth N16.046 million.