Stock market records N138bn growth, as Zenith, GTCO, UBA, others close market positive terrain

The Nigerian Exchange Ltd. on Friday recorded N138 billion growth following continued investors’ buy interest in stocks of Tier-one banks.

Specifically, the market capitalisation which opened at N55.900 trillion rose by N138 billion or 0.25 percent to close at N56.038 trillion.

Also, the All-Share Index rose by 315.41 points or 0.25 percent to close at 102,104.88 from 102,149.93 on Thursday.

Consequently, the Year-To-Date (YTD) return rose to 36.95 percent.

Stocks of Tier-one banks namely; Zenith Bank, Guaranty Trust Holding Company (GTCO) and United Bank of Africa (UBA) kept the market in a positive terrain.

The market breadth closed positive with 44 stocks on gainers’ chart and 13 losers’

Japaul Gold Group led the gainers’ table growing by 10 per cent to close at N3.08 per share.

PZ Cussons followed 9.92 percent to close at N36, while Royal Exchange Assurance rose by 9.86 percent to close at 78k per share.

Honeywell Flour Mills gained by 9.84 percent to close at N4.91, while Sunu Assurances added by 9.75 percent to close at N2.25 per share.

Conversly, The Initiative Plc (TIP) led the losers’ table by 6.88 percent to close at N2.30 per share.

Jaiz Bank trailed by 6.39 percent to close at N2.93 per share.

Tantalizer lost six percent to close at 47k, while Daar Communications shed 4.26 percent to close at 90k per share.

International Breweries decreased by 3.99 per cent to close at N5.30 per share.

Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 14.09 per cent.

Meanwhile, investors exchanged  519.39 million shares valued at N8.85 billion in 11,301 deals.

Japaul Gold Group was the most active stock, trading 59.17 million shares valued at N181.19 million.

United Bank of Africa(UBA) followed with 48.69 million shares worth N1.48 billion, while Universal Insurance came third with 39.88 million shares valued at N18.49 million.

GTCO sold 24.65 million shares valued at N1.08 billion and United Capital Plc sold 22.31 million units of shares worth N498.52 million.