Equities Market rebounds with N68bn gain

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By Kayode Tokede

The Nigerian Stock Exchange (NSE) equities market on Thursday trended north with a gain of N68 billion on the back of gains in high capitalised stocks.

The overall market capitalisation size gained N68 billion to close at N15.242 trillion from 15.174 trillion it closed the previous day.

Consequently, the All-Share Index (ASI) increased by 133.08 basis points, representing a growth of 0.45 per cent to close at 29,591.29basis points from 29,458.21 basis points it closed on Wednesday.

All sector indices closed positive, save for the Insurance (-1.77per cent) index, as the Industrial Goods (+1.94per cent), Oil & Gas (+1.53per cent), Consumer Goods (+0.37per cent) and Banking (+0.13per cent) indices advanced.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat Petroleum Development Company, Chemical and Allied Products (CAP), Dangote Cement, Unilever Nigeria and BUA Cement.

Analysts at Afrinvest Limited expected gains in the market to persist in the next trading session, on the back of renewed buying interest.

Market breadth closed the same with 14 gainers and losers. CAP recorded the highest price gain of 10 per cent, to close at N27.50, per share. Unilever Nigeria followed with a gain 8.06 per cent to close at N19.45, while Chams rose by 6.45 per cent to close at 33 kobo, per share.

Transnational Corporation of Nigeria (Transcorp) shares increased by 4.85 per cent to close at N1.08, while Fidelity Bank appreciated by 4.55 per cent to close at N2.30, per share.

On the other hand, Linkage Assurance led the losers’ chart by 8.33 per cent, to close at 44 kobo, per share. Wapic insurance followed with a decline of 7.89 per cent to close at 35 kobo, while  Honeywell Flour Mills went down by 7.69 to close at N1.08, per share.

Aiico Insurance lost 5.68 per cent to close at 83 kobo, while Jaiz Bank shed 4.41 per cent to close at 65 kobo, per share.

However, the total volume traded fell by 37.6 per cent to 196.93 million shares, worth N7.71 billion, and traded in 2,915 deals. Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 26.596 million shares valued at N227.02 million.

FCMB Groups followed with 23.44 million shares worth N46.63 million, while Access Bank traded 20.39 million shares valued at N206.097 million.

Guaranty Trust Bank traded 15.99 million shares valued at N513.65 million, while Zenith Bank transacted 15.23 million shares worth N334.99 million.

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