Equities Market Posts N472bn Gain As Bullish Sentiment Prevails

The Nigerian equities market yesterday maintained a positive trajectory, delivering N472 billion boost to investors’ portfolio value.

The All Share Index (ASI) gained by 767.63 points, representing a growth of 0.75 per cent to close at 103,137.99 points. Accordingly, market capitalisation rose by N472 billion to close at N63.333 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications (MTNN), CAP, Transnational Corporation (Transcorp), Guaranty Trust Holding Company (GTCO) and UACN.

As measured by market breadth, market sentiment was positive as 29 stocks gained relative to 28 losers. MTNN recorded the highest price gain of 10 per cent to close at N256.30, per share. SCOA Nigeria followed with a gain of 9.93 per cent to close at N2.99, while Omatek Ventures rose by 9.88 per cent to close at 89 kobo, per share.

Universal Insurance went up by 8.70 per cent to close at 75 kobo, while CAP appreciated by 8.52 per cent to close at N47.45, per share. On the other hand, Secure Electronic Technology led the losers’ chart by 9.88 per cent, to close at 73 kobo, per share. Abbey Mortgage Bank followed with a decline of 9.09 per cent to close at N3.30, while SUNU Assurance declined by 8.21 per cent to close at N6.15, per share.

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Deap Capital Management depreciated by 7.08 per cent to close at N1.05 and C&I Leasing declined by 6.82 per cent to close at N4.10, per share.

The total volume traded declined by 66.79 per cent to 440.324 million units, valued at N11.971 billion, and exchanged in 13,087 deals. Transactions in the shares of Lasaco Insurance topped the activity chart with 108.045 million shares valued at N338.668 million. Access Holdings followed with 44.044 million shares worth N1.066 billion, while United Bank for Africa (UBA) traded 27.877 million shares valued at N945.658 million.

Zenith Bank traded 26.702 million shares valued at N1.255 billion, while Universal Insurance sold 22.672 million shares worth N16.703 million.