Equities Market Extends Gains, Up N18bn

The Nigerian equities market yesterday continued its resurgence as the market ended N18 billion stronger due to gains in Stanbic IBTC Holdings Plc and 24 others.

Precisely, the All-Share Index inched higher by 39.49 absolute points, representing an increase of 0.08 per cent to close at 51,178.41 points. While the overall market capitalisation value gained N18 billion to close at N27.871 trillion.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Stanbic IBTC Holdings, International Breweries, PZ Cussons Nigeria, Nigerian Aviation Handling Company (NAHCO) and Transnational Corporation (Transcorp).

As measured by market breadth, market sentiment closed positive as 25 stocks gained relative to eight losers. Transcorp recorded the highest price gain of 9.85 per cent to close at N2.23, per share.

International Breweries followed with a gain 6.74 per cent to close at N4.75, while Academy Press gained 6.56 per cent to close at N1.30, per share.

Livestock Feeds rose by 4.26 per cent to close at 98 kobo, while RT Briscoe Nigeria appreciated by 4.17 per cent to close at 25 kobo, per share.

On the other hand, FTN Cocoa processors led the losers’ chart by 3.85 per cent to close at 25 kobo, per share. Prestige Assurance followed with a decline of 2.50 per cent to close at 39 kobo, while Nigerian Breweries declined by 1.50 per cent to close at N36.20, per share.

Lafarge Africa shed 1.47 per cent to close at N23.40, while Africa Prudential dipped by 0.92 per cent to close at N5.40, per share.

However, the total volume traded declined by 30.1 per cent to 1.272 billion units, valued at N3.978 billion, and exchanged in 3,505 deals.

Transactions in the shares of Transcorp topped the activity chart with 1.139 billion shares valued at N2.139 billion. Fidelity Bank followed with 19.515 million shares worth N102.593 million, while Zenith Bank traded 16.485 million shares valued at N359.074 million.

Guaranty Trust Holding Company (GTCO) traded 15.089 million shares valued at N379.995 million, while Dangote Sugar Refinery transacted 8.973 million shares worth N154.786 million.