Equities Market Halts Losing Streak, As Investors Gain N149.4bn
UMORU ABDULKADIR
The Nigerian Stock Market reversed its bearish run Thursday to return to the green territory, as the All-Share Index (ASI) appreciated by 0.10 per cent to close at 29,352.13 points.
The ASI inched up 289.63 basis points or 0.10 per cent to close higher at 29,352.13 points in contrast to the 29,062.50 achieved the previous day, while the market capitalisation returned to N15 trillion benchmark when it added N149.4 billion or 0.10 per cent to close at N15.142 trillion when compared with N14.992 trillion of Wednesday.
The activity chart shows that Access Bank recorded the highest sales on the day, trading 74.6 million shares worth N770.9 million in 657 deals, followed by Zenith Bank which transacted 71.8 million shares estimated at N1.56 billion achieved in 638 deals. Lafarge Africa sold 40.7 million shares valued at N629.9 million across 288 deals.
While United Bank Africa traded 37.2 million shares worth N327.9 million in 375 deals, Morison Industries Plc exchanged 35 million shares estimated at N15.7 million achieved in 2 deals to boost market turnover and equity value.
Dangote Cement topped the best performing stocks on the day with 500 kobo gain to close at N175 per share, followed by MTN Nigeria which recorded 250 kobo price appreciation to close at N123 per share. Forte Oil also made the gainers’ chart when it advanced by 160 kobo to close at N20.6 per share.
Lafarge Africa also joined the club of gainers with 95 kobo price rise to close at N15.95 per share, while Unilever Nigeria rounded the best performing stocks’ chart with 80 kobo gain to close at n18.8 per share.
BUA Cement recorded another loss today when it dipped 200 kobo to close at N36 per share. It was followed by Stanbic IBTC Plc when it lost 100 kobo to close at N41.5 per share. Beta Glass also dropped 100 kobo to close trading at N63.9 per share.
While UACN declined by 70 kobo or 6.54 per cent to close at N10 per share, BOC Gas depreciated by 55 kobo or 10 per cent to close at N4.95 per share, among others.
The stock market bounced back today to retain its N15 trillion benchmark, on the back of the price appreciations in the shares of the two most capitalized companies on the Nigerian Stock Exchange (NSE) in Dangote Cement and MTN Nigeria. It was also impacted by gains recorded by Forte Oil, representing the Oil & Gas sector as well as Lafarge Africa in the building construction sector and Unilever respectively.
Overall, Investors traded 387.16 million units of shares worth N5.02 billion in 4,654 deals higher than 360.1 million units of shares valued at N2.83 billion achieved in 4,345 deals transacted on Wednesday.
Comments are closed.