Stock market gains N18bn on price appreciation

THE stock market on Wednesday recorded a positive position, gaining N18 billion to close at N27.871 trillion from the N27.852 trillion posted on Tuesday.

Also, the All-Share Index rose by 39.49 a points, representing an increase of 0.08 per cent  to close at 51,178.41 from 51,138.92 at the previous session.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Stanbic IBTC Holdings, International Breweries, PZ Cussons Nigeria, Nigerian Aviation Handling Company (NAHCO) and Transnational Corporation (Transcorp).

As measured by market breadth, market sentiment closed positive as 25 stocks gained relative to eight losers.

Transcorp recorded the highest price gain of 9.85 per cent to close at N2.23, per share.

International Breweries followed with a gain 6.74 per cent to close at N4.75, while Academy Press gained 6.56 per cent to close at N1.30, per share.

Livestock Feeds rose by 4.26 per cent to close at 98 kobo, while RT Briscoe Nigeria appreciated by 4.17 per cent to close at 25 kobo, per share.

On the other hand, FTN Cocoa processors led the losers’ chart by 3.85 per cent to close at 25k, per share.

Prestige Assurance  followed with a decline of 2.50 per cent to close at 39k, while Nigerian Breweries declined by 1.50 per cent to close at N36.20, per share.

Lafarge Africa shed 1.47 per cent to close at N23.40, while Africa Prudential dipped by 0.92 per cent to close at N5.40, per share.

The total volume traded declined by 30.1 per cent to 1.27 billion units, valued at N3.98 billion, and exchanged in 3,505 deals.

Transactions in the shares of Transcorp topped the activity chart with 1.14 billion shares valued at N2.14billion.

Fidelity Bank  followed with 19.52 million shares worth N102.59 million, while Zenith Bank traded 16.49 million shares valued at N359.07 million.

Guaranty Trust Holding Company (GTCO) traded 15.09 million shares valued at N379.2 million, while Dangote Sugar Refinery transacted 8.97 million shares worth N154.79 million.