Stock Market Records Positive Outing, Gains N17bn

The Nigerian stock market yesterday closed on a positive note as the capitalisation rose by N17 billion, following buy interest in Guaranty Trust Holding Company (GTCO) and eight others.

The All-Share Index (ASI) rose by 31.43 absolute points, representing a gain of 0.06 per cent to close at 54,936.11 points. Also, investors gained N17 billion in value as market capitalisation went up to N29.927 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guaranty Trust Holding Company (GTCO), Nigerian Exchange Group, Fidelity Bank, FBN Holdings (FBNH) and Transnational Corporation (Transcorp).

Analysts at Afrinvest Limited said: “in the penultimate trading session, we expect a muted performance on the bourse, on the back of weak investor sentiment.”

As measured by market breadth, market sentiment was negative, as 14 stocks lost relative to nine gainers. GTCO and Wapic Insurance recorded the highest price gain of 2.44 per cent each to close at N25.50 and 42 kobo, while Linkage Assurance followed with a gain of 2.22 per cent to close at 46 kobo, per share.

Lasaco Assurance rose by 2.04 per cent to close at N1.00, while Transcorp appreciated by 1.56 per cent to close at N1.30, per share. On the other hand, NCR Nigeria led the losers’ chart by 9.69 per cent to close at N2.61, per share. FTN Cocoa processors followed with a decline of 6.90 per cent to close at 27 kobo, while Japaul Gold & Ventures shed 6.67 per cent to close at 28 kobo, per share. 

Cutix lost 4.95 per cent to close at N2.11, while Consolidated Hallmark Insurance  shed 4.62 per cent to close at 62 kobo, per share.

The total volume traded rose by 5.0 per cent to 134.151 million units, valued at N1.330 billion, and exchanged in 2,479 deals. 

Transactions in the shares of Transcorp topped the activity chart with 28.122 million shares valued at N35.932 million. United Bank for Africa followed with 21.232 million shares worth N170.415 million, while Courteville Business Solutions traded 19.123 million shares valued at N8.608 million.

GTCO traded 13.551 million shares valued at N336.904 million, while FBNH transacted 8.126 million shares worth N88.998 million.