Unity Bank, FCMB Drop Value Despite N46.83bn Stock Market Rally
The Nigerian equities market has closed the week on a bullish note with stocks rallying to a 0.17 per cent appreciation.
The All-Share Index (ASI) gained 0.17 per cent or 86.88 index points to close at 51,705.61 basis points as against 51,618.73 basis points reporter on Thursday.
Also, the market capitalization which collates the total value of all listed equities on the domestic bourse stands at N27.87 trillion up from N27.83 trillion the previous trading session.,with investors gaining N46.83 billion or 0.17 per cent during Friday’s trade.
The surge of key market indicators of the NGX was impacted by gains recorded by large equities firms which include ; Champions Brewerries Plc, John Holt Plc, May and Baker Plc, International Brewerries and First Bank Holdings Plc.
The market turnover dipped by 30.1 per cent, as investors bought and sold 156.08 million units of shares worth N1.834 in 4,312 deals as against a total of 223,24 million shares valued at N2.86 billion in 4,028 deals transacted on the floor of the Nigerian stock market the previous day.
Amid the rise of the NGX, the market breadth closed negative with 18 laggards abd twelve gainers compared to 22 decliners and 18 advanced stocks the previous trading session.
The gainers’ table was dominated in percentage parameters by Champions Brewerries Plc, as the brewing giant rose by 10 per cent to settle at N3 .74 kobo prr share.
John Holt Plc and May and Baker Plc, soared by 8.62 per cent and 8.47 per cent to close at N0.63 kobo and N3.97 kobo per share respectively.
Similarly, International Brewerries Plc appreciated by 5 .26 per cent to close at N6 ler share, while First Bank Holdings Plc jumped 4. 46 per cent to settle at N10.55 kobo per share.
On the flip side, Livestock Feeds Plc led the laggard equities in percentage terms as the company dipped 9.09 per cent to close at N1. 40 kobo perr share.
Redstarex Plc fell 8.64 per cent to settle at N2. 75 kobo prr share, while Unity Bank Plc lost 8.16 per cent to close at N0. 45 kobo per share.
In the same vein, Courtville Plc declined by 6 per cent to close at N0.47 kobo per share, while First City Monument Bank (FCMB) Plc shed 5.71 per cent to settle at N3.30 kobo per share.
A cursory look at the activity chart of the Nigerian Exchange Limited (NGX), reveals that Oando Plc closed the market as the most active and valuable stock with the Oil and Gss company trading a total of 19.32 million shares worth N110.32 million.