Stock Market Gains By N1bn Amidst Rising Sentiments

The Nigerian stock market ended yesterday session mixed, albeit with a bullish tilt as the overall capitalisation gained by N1 billion.

The All Share Index (ASI) rose by 2.00points, representing a gain of 0.002 per cent to close at 99,842.95 points. Accordingly, market capitalisation gained by N1 billion to close at N56.480 trillion.

The slight upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guinness Nigeria, Julius Berger, Guaranty Trust Holding Company (GTCO), Unilever Nigeria and Cadbury Nigeria.

As measured by market breadth, market sentiment was positive , as 35 stocks gained relative to 17 losers. Champion Breweries and Veritas Kapital Assurance recorded the highest price gain of 10 per cent each to close at N3.56 and 89 kobo respectively, per share.

R.T. Briscoe Nigeria and Royal Exchange followed with a gain of 9.88 per cent each to close at 89 kobo and 64 kobo each, while R.T. Briscoe Nigeria and Chams Holding Company rose by 9.79 per cent to close at N2.13, per share.

On the other hand, Transcorp Hotels led the losers’ chart by 10 per cent, to close at N90.00, per share. Regency Alliance Insurance followed with a decline of 8.51 per cent to close at 43 kobo, while LASACO Assurance declined by 6.05 per cent to close at N2.02, per share.

NEM Insurance depreciated by 5.76 per cent to close at N9.00 and Fidelity Bank declined by 4.15 per cent to close at N10.40, per share.

The total volume traded declined by 6.04 per cent to 1.30 billion units, valued at N25.326 billion, and exchanged in 8,364 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 871.084 million shares valued at N19.119 billion. Fidelity Bank followed with 162.080 million shares worth N1.732 billion, while Transnational Corporation (Transcorp) traded 33.698 million shares valued at N399.732 million.