Stock Market Ends Positive With N112. 35bn Investors’ Gain.
UMORU ABDULKADIR
The year 2019 winds down with the Nigerian Stock Exchange (NSE) ending Tuesday December 31 trading on a positive mode, ending a three-day of bullish run.
The market All Share Index (ASI) appreciated by 0.87 percent, ending the year in the green territory.
Precisely, the All Share Index added 232.73 basis points or 0.87 per cent to close at 26,842.07 points as against the preceding day’s close of 26,609.34 points while the Market Capitalisation appreciated by N112.35 billion or 0.87 per cent to close the year at N12.958 trillion lower than the previous day’s close of N12.846 trillion.
Today’s upturn in the market was impacted by the increased bargain in Seplat Petroleum Development Company, Stanbic IBTC Holdings Plc, Lafarge Africa, Guaranty Trust Bank and Okomu Oil, among others.
Consequently, the market breadth which measure Investors’ sentiment closed positive with 24 gainers led by Seplat Petroleum Development Company against 13 losers topped by Nigeria Breweries.
A breakdown of the price movement chart showed Seplat as the best performing stock when it gained N59.8 kobo to close at N657.8 per share. Stanbic IBTC Holdings Plc followed with 200 kobo appreciation to close at N41 per share, while Lafarge Africa moved from N14 to N15.3, gaining 130 kobo per share.
Guaranty Trust Bank inched up 70 kobo to finish trading at N29.7 per share, and Okomu Oil added 60 kobo to close the Tuesday trading at N55.6 per share to round off the chart for best performing stock for the day.
On the flip side, Nigeria Breweries led the worst-performing stocks when it shed 75 kobo to close at N59 per share, UPDC Real Estate Investment Trust trailed, losing 45 kobo to close at N4.25 per share. FBN Holdings Plc was down from N6.35 to N6.15, dropping 20 kobo.
While Dangote Sugar and Africa Prudential each declined by 20 kobo and 18 kobo to close at N13.6 and N4 per share, respectively.
The Financial Services sector led the activity chart with Omoluabi Mortgage Bank emerging the most active on the day when it sold 796.4 million shares worth N438 million, followed by Access Bank which exchanged 47.3 million shares estimated at N471.4 million. United Bank for Africa had a turnover of 37.4 million shares valued at N267.6 million.
While Zenith Bank accounted for 29.8 million shares worth N553.9 million, Dangote Cement Plc transacted 16.8 million shares valued at N2.38 billion to boost turnover volume and value list.
In total, equity investors traded a total of 1.05 million shares worth N5.5 billion in 2,445 deals on the last of the year.
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