Jaiz Bank, Unity Bank Stocks Fall Despite NGX’s N29bn Appreciation

Jaiz Bank Plc, Unity Bank Plc, Flour Mills Plc and PZ Cussons Plc were the biggest decliners on the Nigerian Exchange Limited (NGX) despite the gain recorded by equities Market on Tuesday.

The All-Share Index rose by 0.15 per cent to halt the recent losses impacted by sell-offs on the Nigerian Bourse.

The ASI gained 55.5 index point to close at 37,640.75 basis point up from opening value of 37,585.25 basis point.

In the same vein, market capitalisation appreciated by 0.15 per cent or N29 billion t close at N19.621 trillion from N19.592 trillion it posted the previous trading session.

The market turnover jumped by 40.1 per cent, as investors bought and sold 229.009 million shares worth N2.730 billion in 3,678 deals compared to 163.502 million shares valued at N3.43 billion in 3,562 deals that exchanged hands amongst investors on Monday.

The market breadth returned positive with 28 advanced stocks compared to 13 laggards, as against 18 losers and 13 gainers the previous trading session.

The gainers’ table was led in percentage parameters by Ikeja Hotel Plc and Linkage Assurance Plc, gaining 10 percent to close at N1. 21 Kobo and N0. 71 Kobo per share respectively.

Likewise, Cadbury Nigeria Plc jumped 9.62 per cent to close at N8. 55 Kobo per share, while Honey well Flour Plc appreciated by 9.46 per cent to close at N1. 62 Kobo per share. Also, Consolidated Hallmark Insurance Plc rose by 8.62 percent to close at N0. 63 Kobo per share.

Conversely, Jaiz Bank Plc led the losers’ table in percentage terms by 5.17 per cent to close at N0. 55 Kobo per share.

Veritas Kapital and Unity Bank Plc dipped by 4 and 3.64 per cent to close at N0. 24 Kobo and N0. 53 Kobo per share respectively.

Also, PZ Cussons fell by 3.42 percent to close at N5. 65 Kobo per share, while Flour Mills lost 2.52 per cent to close at N29.05 per share.

First City Monument Bank (FCMB) closed the market as the most active stock at 40.703 milliin shares worth N133.656 million, while Guaranty Trust Bank Holding Company was the most valuable equity at N401.146 million.