The equities market resumed from the Independence Day holiday on a positive note with a gain of N213 billion triggered by investors’ demand for BUA Cement and 23 others.
The Nigerian Exchange Limited All-Share Index (ASI) gained 388.83 basis points or 0.59 per cent to close at 66,770.97 basis points. Also, market capitalisation rose by N213 billion to close at N36.544 trillion.
Sectoral performance was mixed as the Industrial Goods (+3.5 per cent) and Banking (+0.3 per cent) indices posted gains while the Insurance (-1.8per cent) and Consumer Goods (-0.4 per cent) indices declined. The Oil & Gas index closed flat.
The upturn was driven by price appreciation in large and medium-capitalised stocks amongst which are; BUA Cement, Beta Glass, UAC of Nigeria (UACN), Oando, and Guaranty Trust Holding Company (GTCO).
However, market breadth was negative, as 27 stocks lost relative to 24 gainers. BUA Cement emerged as the highest price gainer of 9.94 per cent to close at N94.00, while Beta Glass and FTN Cocoa Processors followed with a gain of 9.93 per cent each to close at N66.95 and N1.66 respectively, per share.
Oando rose by 9.55 per cent to close at N8.60, while UACN appreciated by 8.50 per cent to close at N10.85, per share. On the other side, Linkage Assurance led others on the losers’ chart with 10 per cent to close at 72 kobo, per share. CWG followed with a decline of 9.94 per cent to close at N7.79, while Red Star Express shed 9.86 per cent to close at N2.65, per share.
Tantalizer depreciated by 9.38 per cent to close at 29 kobo, while UPDC Real Estate Investment Trust dipped by 8.97 per cent to close at N3.55, per share.
The total volume traded increased by 24.4 per cent to 364.32 million units, valued at N3.85 billion, and exchanged in 7,537 deals. Transactions in the shares of Consolidated Hallmark Insurance led the activity with 71.536 million shares worth N94.676 million. Fidelity Bank followed with an account of 33.222 million shares valued at N272.335 million, while Oando traded 26.190 million shares valued at N219.648 million.
GTCO traded 21.441 million shares worth N752.682 million, while Access Holdings traded 19.916 million shares worth N318.622 million.
Comments are closed.