Equities Market Rebounds By N95bn Gain

The domestic equities market yesterday gained N95 billion, buoyed by price increases in Unilever Nigeria Plc and 34 others.

The All-Share Index (ASI) gained 167.84 points, representing a gain of 0.17 per cent to close at 99,385.44 points. Also, market capitalisation rose by N95 billion to close at N56.221 trillion.

The upturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Unilever Nigeria, Oando, FBN Holdings (FBNH), CWG and Dangote Sugar Refinery.

As measured by market breadth, market sentiment was positive, as 35 stocks gained relative to 13 losers. FTN Cocoa Processors, Oando and CWG emerged the highest price gainer of 10 per cent each to close at N1.54, N13.75 and 60 kobo, respectively, per share.

C & I Leasing followed with a gain of 9.33 per cent to close at N3.28, while Veritas Kapital Assurance advanced by 9.09 per cent to close at 96 kobo, per share.

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On the other side, Secure Electronic Technology led others on the losers’ chart with 10 per cent to close at 54 kobo, per share. Cornerstone Insurance followed with a decline of 8.64 per cent to close at N2.01, while Royal Exchange shed 7.58 per cent to close at 61 kobo, per share.

Tantalizer lost 4.17 per cent to close at 46 kobo, while Universal Insurance depreciated by 2.78 per cent to close at 35 kobo, per share.

The total volume of trades dipped by 23.6 per cent to 276.364 million units, valued at N4.120 billion, and exchanged in 7,597 deals. Transactions in the shares of Access Holdings led the activity with 45.336 million shares worth N859.399 million. AIICO Insurance followed with account of 23.955 million shares valued at N22.906 million, while Guaranty Trust Holding Company (GTCO) traded 13.850 million shares valued at N608.119 million.

Fidelity Bank traded 13.231 million shares worth N133.746 million, while Skyway Aviation Handling Company traded 12.000 million shares worth N244.804 million.