Investors Gain N20bn In Stock Market Bullish Run Trend
UMORU ABDULKADIR
The Nigerian Stock Market sustained its rising profile Friday to close the week in the green territory, as the All-Share Index (ASI) appreciated by 0.13 per cent to close at 29,628.84 points.
The ASI inched up 37.55 basis points or 0.13 per cent to close higher at 29,628.84 points in contrast to the 29,591.29 points achieved the previous day, while the market capitalisation appreciated by N20 billion or 0.13 per cent to close at N15.262 trillion when compared with N15.242 trillion of Thursday.
The activity chart shows that Guaranty Trust Bank recorded the highest sales on the day, trading 34.3 million shares worth N1.10 billion in 324 deals, followed by National Hajj Commission which transacted 15.9 million shares estimated at N38.3 million achieved in 67 deals. Transnational Corporation of Nigeria sold 15 million shares valued at N15.6 million across 96 deals.
While Chams Plc traded 11.4 million shares worth N3.87 million in 35 deals, Zenith Bank Plc exchanged 11.04 million shares estimated at N242.2 million achieved in 388 deals to boost market turnover and equity value.
Beta Glass topped the best-performing stocks on the day with 610 kobo gain to close at N70 per share, followed by Seplat Petroleum Development Company Plc which recorded 500 kobo price appreciation to close at N605 per share. Dangote Cement also made the gainers’ chart when it advanced by 500 kobo to close at N179.9 per share.
Julius Berger Plc also joined the club of gainers with 150 kobo price rise to close at N21.5 per share, while Lafarge Africa rounded up the best performing stocks’ chart with 30 kobo gain to close at N17.5 per share.
MTN Nigeria recorded a second consecutive day’s loss today when it dipped 200 kobo to close at N125 per share. It was trailed by Unilever Plc which lost 190 kobo to close at N17.55 per share. Dangote Sugar also dropped 75 kobo to close trading at N13.9 per share.
While NCR Plc declined by 34 kobo or 9.32 per cent to close at N3.31 per share, FBN Holdings Plc depreciated by 20 kobo or 2.67 per cent to close at N7.3 per share, among others.
Consequently, the investors’ sentiments as measured by the market breadth however, closed negative as Beta Glass led 16 gainers against 20 losers topped by MTN Nigeria.
The stock market bullish outlook today was on the back of the price appreciations in the shares of the Dangote Cement and Seplat Petroleum Development Company Plc. It was also impacted by gains recorded by Beta Glass, Julius Berger as well as Lafarge Africa Plc respectively.
In all, Investors traded 184.56 million units of shares worth N3.51 billion across 3, 852 deals lower than 196.93 million units of shares valued at N7.71 billion achieved in 2,915 deals transacted the preceding day.
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