Equities Market Appreciates By N306bn

326

The Nigerian equities market on Wednesday extended its positive performance as gains in Stanbic IBTC Holdings and 33 others pushed the overall market capitalization up by N306 billion.

Investors buying interest in FBN Holdings gained 9.91 percent, Access Holdings appreciated by 9.04 percent and Stanbic IBTC Holdings rose by 5.60 percent playing a role in positive growth in the equities market.

This brings the NGX All-Share Index (ASI) to a gain of 558.47 basis points or 0.78 percent to close at 71,808.64 basis points, while market capitalisation rose by N306 billion to close at N39.295 trillion.

Performance across the sectors was mixed, as NGX Insurance dropped by 2 percent and NGX Consumer Goods depreciated by 0.1 percent, while the NGX Industrial Goods and NGX Oil & Gas indices closed flat.

The NGX Banking added five percent, the sole gainer for yesterday.

As measured by market breadth, market sentiment was positive, as 34 stocks gained relative to 22 losers. Thomas Wyatt Nigeria emerged as the highest price gainer of 9.93 percent to close at N3.32 per share.

FBNH followed with a gain of 9.91 percent to close at N29.40, while Multiverse Mining and Exploration advanced by 9.90 percent to close at N7.77 per share.

ETI rose by 9.88 percent to close at N18.90, while Infinity Trust Mortgage Bank appreciated by 9.70 percent to close at N1.47, per share.

On the other side, AXA Mansard Insurance led others on the losers’ chart with 9.69 percent to close at N4.10, per share. Guinea Insurance followed with a decline of 9.68 percent to close at 28 kobo, while Oando shed 9.13 percent to close at N10.45 per share.

Omatek Ventures lost 8.14 percent to close at 79 kobo, while Universal Insurance depreciated 7.41 percent to close at 25 kobo per share.

The total volume traded advanced by 61.2 percent to 690.01 million units, valued at N12.10 billion, and exchanged in 8,412 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) led the activity with 76.703 million shares worth N3.04 billion.

United Bank for Africa (UBA) followed with an account of 74.567 million shares valued at N1.658 billion, while Fidelity Bank traded 65.633 million shares valued at N596.318 million.

Access Holding traded 64.176 million shares worth N1.337 billion, while Universal Insurance traded 47.129 million shares worth N12.209 million.

Comments are closed.