Equities market sustains positive momentum, gains N31bn
BY TEMITOPE ADEBAYO
Nigerian equities yesterday delivered a positive performance and extended gains from the previous sessions as the overall capitalization rose by N31 billion, driven by a rally in Oando Plc and 30 others.
The All-Share Index (ASI) rose by 51.81 points, representing a gain of 0.05 per cent to close at 98,944.42 points. Also, market capitalisation gained N31 billion to close at N59.955 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are Oando, Unilever Nigeria, Zenith Bank, FBN Holdings (FBNH) and United Bank for Africa (UBA).
As measured by market breadth, market sentiment closed positive, as 31 stocks gained relative to 16 losers. Eunisell Interlinked, Oando and Unilever Nigeria emerged the highest price gainer of 10 per cent each to close at N3.19, N89.65 and N20.90 respectively, per share. McNichols followed with a gain of 9.79 per cent to close at N1.57, while Regency Alliance Insurance advanced by 9.62 per cent to close at 57 kobo, per share.
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On the other side, Aradel Holdings led others on the losers’ chart with 9.99 per cent to close at N562.90, per share. Northern Nigeria Flour Mills (NNFM) followed with a decline of 9.93 per cent to close at N34.00, while Consolidated Hallmark Holdings shed 6.12 per cent to close at N1.38, per share.
UPDC lost 5.81 per cent to close at N1.46, while Ellah Lakes depreciated by 4.31 per cent to close at N4.00, per share.
Meanwhile, the total volume traded declined by 51.99 per cent to 283.735 million units, valued at N8.291 billion, and exchanged in 7,966 deals. Transactions in the shares of Champion Breweries led the activity with 255.277 million shares worth N1.021 billion. Japaul Gold & Ventures followed with account of 108.849 million shares valued at N255.822 million, while United Bank for Africa (UBA) traded 44.990 million shares valued at N1.191 billion.
FCMB Group traded 19.153 million shares worth N160.373 million, while C & I Leasing traded 16.913 million shares worth N59.075 million.
