Renewed Positive Sentiment Lifts Equities Up By N178bn

The local equities market yesterday showed resilience, with the overall capitalisation rose by N178 billion.

The All Share Index (ASI) rose by 310.13 points, representing a gain of 0.32 per cent to close at 97,025.17 points. Also, market capitalisation appreciated by N178 billion to close at N55.754 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: Nestle Nigeria, Flour Mills of Nigeria, Oando, FBN Holdings (FBNH) and Berger Paints Nigeria.

Also, market breadth closed positive as 27 stocks gained relative to 22 losers. FBNH and Caverton Offshore Support Group recorded the highest price gain of 10 per cent each to close at N26.40 and N2.31 respectively, while Flour Mills of Nigeria followed with a gain of 9.99 per cent to close at N49.55, per share.

R.T. Briscoe Nigeria went up by 9.93 per cent to close at N3.32, while Nestle Nigeria appreciated by 9.88 per cent to close at N890.00, per share.

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On the other hand, DAAR Communication led the losers’ chart by 8.86 per cent to close at 72 kobo, per share.

Eterna followed with a decline of 8.14 per cent to close at N32.15, while Universal Insurance lost 7.69 per cent to close at 36 kobo, per share.

Sovereign Trust Insurance depreciated by 5.97 per cent to close at 63 kobo, while International Breweries declined by 5.32 per cent to close at N4.45, per share.

The total volume traded declined by 34.91 per cent to 390.547 million units, valued at N7.974 billion, and exchanged in 9,615 deals. Transactions in the shares of Access Holdings topped the activity chart with 80.049 million shares valued at N1.475 billion. FBNH followed with 51.982 million shares worth N1.341 billion, while United Bank for Africa (UBA) traded 31.108 million shares valued at N745.582 million.

Caverton Offshore Support Group traded 23.728 million shares valued at N54.398 million, while Zenith Bank sold 19.275 million shares worth N712.450 million.