Equities Market Gains N7bn As Investors Pick High-cap Stocks

The Nigerian equities market yesterday gained N7 billion, following buying interest in Seplat Energy Plc and 32 others.

The All Share Index (ASI) rose by 10.96 points, representing a gain of 0.01 per cent to close at 99,396.23 points. Accordingly, market capitalisation gained by N7 billion to close at N56.228 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat Energy, CWG, Flour Mills of Nigeria, UACN of Nigeria (UACN) and United Bank of Africa (UBA).

As measured by market breadth, market sentiment was positive, as 33 stocks gained relative to 16 losers. CUTIX and Seplat Energy recorded the highest price gain of 10 per cent each to close at N4.40 and N3,794.90 respectively, LASACO Assurance followed with a gain of 9.95 per cent to close at N2.32, per share.

CWG went up by 9.85 per cent to close at N7.25, while United Capital appreciated by 9.79 per cent to close at N24.10, per share.

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On the other hand, DAAR Communication led the losers’ chart by 8.93 per cent, to close at 51 kobo, per share. C&I Leasing followed with a decline of 8.54 per cent to close at N3.00, while Consolidated Hallmark Holdings declined by 7.98 per cent to close at N1.73, per share.

MTN Nigeria Communications (MTNN) by 6.89 per cent to close at N200.00 and Regency Alliance Insurance declined by 6.52 per cent to close at 43 kobo, per share.

The total volume traded increased by 91.56 per cent to 529.369 million units, valued at N10.493 billion, and exchanged in 7,616 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 66.050 million shares valued at N2.93 billion. UACN followed with 46.351 million shares worth N706.587 million, while Access Holdings traded 39.707 million shares valued at N754.175 million.

Consolidated Hallmark Holdings traded 31.602 million shares valued at N54.861 million, while Universal Insurance sold 30.756 million shares worth N10.531 million.