Stock investors record N8.82bn gain
By Philemon Adedeji
At the close of trade yesterday, Stocks investors gained N8.82 billion as market capitalization rose slightly to N29.909 trillion at the close of trade on the Nigerian Exchange Limited (NGX). Investors interest in Zenith Bank, Wapco Insurance (+2.17 per cent), and STANBIC IBTC (+0.68 per cent) drove the market’s recovery.
Absolutely, the All-Share Index (ASI) appreciated by 18.64 basis points representing 0.03 per cent to close at 54,904.68 basis points from 54,886.04 basis points it closed trade on Monday.
As a result, the ASI’s year-to-date (YTD) return increased to 7.13 per cent, while the market capitalisation gained N8.82 billion to close at N29.909 trillion.
The upturn performance was impacted by price appreciation in medium and large capitalised stocks which are Linkages Assurance, Wapic Insurance, Stanbic IBTC and 9 others.
The breakdown of yesterday’s market performance showed trade turnover closed lower relative to the previous session, with the value of transactions down by 44.84 per cent.
The trade volume increased to 127,744,567 million shares valued by N1.586 billion were exchanged in 2,987 deals.
United Bank of Africa (UBA), led the volume with 19.60 million units while Zenith Bank led the value chart in deals worth N298.84 million.
Market breadth closed positive as Linkages Assurance led 12 gainers on the advancers chart which equals 12 losers which dominated the losers chart.
On the advancers chart, Linkages Assurance led as the highest price gainer with 9.76 per cent to close at N0.45 per share, Wapic Insurance which followed went up by 7.89 per cent increased to close at N0.41 per share, while Champion Breweries which recorded as the last third gainer rose by 4.26 per cent to close at N4.90 per share.
Sterling Bank appreciated by 2.67 per cent increased to close at N1.54 per share, While Jaiz Bank which recorded as the last fifth gainer increased by 2.30 per cent to close at N0.89 per share.
On the losers chart, Ikeja Hotel emerged as the most price loser depreciated by 9.65 per cent to close at N1.03 per share, closely followed Cadbury which shed 5.83 per cent to close at N11.30 per share, While UPL went down by 4.76 per cent to close at N2.00 per share.
International Breweries which recorded as the last fourth loser dropped by 4.30 per cent to close at N4.45 per share.
Regalins Insurance which recorded as the last fifth loser dipped by 3.45 per cent to close at N0. 28 per share.
Transaction in the Shares of United Bank of Africa (UBA) topped the activities chart with 19.600 million shares worth N157.244 million, Transnational Corporation which followed exchanged 14.448 million shares valued by N18.505 million, while Fidelity Bank transacted 12.738 million shares valued at N65.668 million.
Zenith Bank accounted 11.964 million shares worth N298.835 million.
Guaranty Trust Holding Company traded 10.472 million shares valued at N258.239 million.
