UMORU ABDULKADIR
Trading on the Nigerian Stock Market ended Wednesday’s trading session in the green territory, as equities investors gained N3 billion to close at N12.870 trillion.
Specifically, the All-Share Index added 5.29 basis points or 0.02 per cent to settle at 26,665.73 points higher than 26.660.44 points recorded on Tuesday, while the market capitalisation of listed equities which opened at N12.868 trillion closed higher at N12.870 trillion.
Consequently, the market breadth which measures investors’ sentiment in stocks closed flat, as Stanbic IBTC Holdings Plc led 17 gainers against 17 losers topped by UPDC Real Estate Investment Trust in equities value terms.
Top of the gainers’ chart was Stanbic IBTC Holdings Plc, when it gained 90 kobo to close at N37 per share, trailed by Cadbury Nigeria with 75 kobo gain to finish at N10.65 per share. Okomu Oil nicked 50 kobo to close trading at N55 per share.
While Union Bank of Nigeria added 30 kobo to close at N6.8 per share, PZ Cussons appreciated by 25 kobo to close at N6 per share to round off the table for the top five gainers on Wednesday.
Conversely, UPDC Real Estate Investment Trust led the worst-performing stocks losing 40 kobo to close at N3.65 per share, ARBICO Plc followed with 38 kobo loss to close at N3.31 per share. Zenith Bank Plc shed 20 kobo to close at N18.5 per share.
While United Bank for Africa dipped 15 kobo to close at N7.05 per share, Access Bank declined by 10 kobo to close at N9.9 per share, among others.
A look at the activity chart showed that Access Bank emerged most active stocks, as it traded 64.2 million shares worth N636 million, followed by Zenith Bank which exchanged 31 million shares estimated at N577.4 million. Guaranty Trust Bank accounted for 26.6 million shares valued at N786 million.
While FBN Holdings Plc came fourth, accounting for 15.2 million shares worth N95.2 million, AAfrinsure Plc had a turnover of 10 million shares worth N2 million to boost market turnover and value list.
Overall, investors traded a total of 232.7 million shares worth N3.2 billion in 2,831 deals in contrast to 331.9 million shares valued at N4.8 billion achieved in 3,358 deals on Tuesday.
Despite today’s positive outlook, an analyst at FSDH, Jide Solanke expects the market to return to negative territory in the next session due to low Investors’ appetite to buy, and the likely profit-taking that will accompany today’s gain
Solankes said, “We expect investors to take a position in high valued stocks with quality names and dividend-yielding stocks in prospect for higher gains as prices remain attractive at current levels.
Comments are closed.