Equities market records first post-protest gain of N97bn
By Esther Agbo
The Nigerian equities market yesterday saw a bullish performance as REDSTAREX Plc and 26 others led the total capitalisation to a gain of N97 billion, the first gain this week following the bear reign during the peak of the now muted hunger protest.
The All-Share Index (ASI) rose by 170.46 points, representing an increase of 0.18 per cent to close at 97,098.98 points. Also, market capitalisation appreciated by N97 billion to close at N55.130 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Oando, Skyway Aviation Handling Company, Industrial and Medical Gas Nigeria (IMG), United Capital and FBN Holdings.
As measured by market breadth, market sentiment was positive, as 27 stocks gained relative to 22 losers. Red Star Express emerged the highest price gainer of 10 percent, to close at 4.18 per share, while Oando followed with a gain of 9.98 percent, to close at N33.60 per share.
R.T. Briscoe Nigeria and United Capital rose with a gain of 9.90 per cent each, to close at N1.11 and 16.10 per share, respectively.
Industrial and Medical Gas Nigeria (IMG) added 9.87 percent to close at N17.25, per share.
On the other side, NEIMETH International Pharmaceuticals led the losers’ chart with 7.69 percent to close at N1.80, per share. Honeywell Flour Mills followed with a decline of 6.10 percent to close at N3.85 per share, while Sovereign Trust Insurance shed 5.56 per cent to close at 51kobo, per share.
DEAP Capital Management and Trust depreciated by 4.00 percent to close at 48 kobo, while Ecobank Transnational Incorporated went down by 3.72 percent to close at N20.70, per share.
The total volume traded rose by 41.69 per cent to 636.501 million units, valued at N12.770 billion, and exchanged in 7,990 deals. Transactions in the shares of Accesscorp led the activity with 112.620 million shares worth N2.110 billion. United Capital followed with an account of 74.421 million shares valued at N1.196 billion, while Guaranty Trust Holding Company (GTCO) traded at 74.340million shares worth N3.337 billion.
Veritas Kapital Assurance traded 55.404 million shares valued at N55.085 million while United Bank for Africa (UBA) traded 40.565 million shares worth N851.718 million.
