Equities Post Rebound, Gains N196bn

Recovering from the previous session’s loss, the domestic equities market yesterday posted N196 billion gain on price appreciations in Conoil Plc and 27 others.
The All-Share Index rose by 345.69 per cent, representing an increase of 0.35 per cent to close at 98,225.63 points. Similarly, the overall market capitalisation value gained N196 billion to close at N55.553 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Conoil, MTN Nigeria Communications (MTNN), Julius Berger Nigeria, Nigerian Aviation Handling Company (NAHCO) and CAP.

As measured by market breadth, market sentiment was positive, as 28 stocks gained while 18 stocks lost. CAP, Learn Africa, NAHCO and UAC of Nigeria (UACN) recorded the highest price gain of 10 per cent each to close at N28.60, N3.30, N36.30 and N1.35 respectively, per share.

Conoil followed with a gain of 9.96 per cent to close at N99.95 and Julius Berger up by 9.94 per cent to close at N68.05, per share. On the other hand, Dangote Sugar Refinery led the losers’ chart by 9.95 per cent to close at N38.90, per share. CWG followed with a decline of 9.82 per cent to close at N5.05, while Vitafoam Nigeria lost 9.81 per cent to close at N17.00, per share.

Honeywell Flour Mills fell by 9.74 per cent to close at N3.15, while University Press declined by 9.60 per cent to close at N2.26, per share.

The total volume traded advanced by 99.18 per cent to 552.209 million units, valued at N14.920 billion, and exchanged in 9,350 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 245.46 million shares valued at N7.946 billion. FBN Holdings (FBNH) followed with 45.469 million shares worth N1.094 billion, while Access Holdings traded 42.872 million shares valued at N727.957 million.

Transnational Corporation (Transcorp) traded 36.078 million shares valued at N502.348 million, while United Bank for Africa (UBA) transacted 22.452 million shares worth N537.741 million.