Following gains recorded in BuaFoods, Stanbic IBTC, and 29 stocks, the Nigerian equities market reopened in an upbeat yesterday, as market capitalisation rose by N262 billion.
At the close of transactions yesterday, the market capitalisation of listed equities appreciated by 0.74 percent to N35.684 trillion from N35.42 trillion reported the previous day.
Also, the all-share index (ASI) appreciated by 481.32 basis points to 65202.41 points from 64721.09 points traded on Friday.
The improved performance on the Nigerian Exchange Limited (NGX) was impacted by gains recorded in medium and large capitalised stocks, amongst which are: Buafoods, Stanbic IBTC, Dangote Sugar Refinery, Nigerian Aviation Handling Company, GlaxoSmithKline and National Salt Company of Nigeria.
Analysts at Vetiva Dealings and Brokerage said: “Asides from a decline in the banking sector, the sentiment was generally bullish, as market breadth closed positive at 2.07x (31 advancers and 15 losers). We expect another mixed session tomorrow (today).”
On the price movement chart, 31 stocks appreciated while 15 constituted the losers’ chart.
JohnHolt led the gainers’ chart with 9.66 per cent to close at N1.59 kobo while SCOA Plc followed with a gain of 9.40 per cent to close at N1.28 kobo. BUAFoods added 9.29 per cent to close at N152.90 kobo, Mansard rose by 6.85 per cent to close at N3.90 kobo, and Livestock gained 6.82 per cent to close at N1.88 kobo.
TransNational Corporation of Nigeria (Transcorp) added 5.29 per cent to close at N438 kobo. GlaxoSmithKline gained 5.15 per cent to close at N10.20 kobo.
AIICO insurance garnered 4.48 per cent to close at N19. Nigerian Aviation Handling Company appreciated by 4.40 kobo to close at N19. Guinea insurance increased by 3.45 per cent to close at 70 kobo. Dangote Sugar Refinery also rose by 2.86 per cent to close at N36.
On the contrary, Tantalizer recorded the highest loss, shedding 10 per cent to close at 36 kobo, Omatek trailed with a loss of 9.09 per cent to close at 30 kobo, Jaiz Bank fell by 7.78 per cent to close at N1.54 kobo, Chi Plc failed by 7.61 per cent to close at 85 kobos, Cornerstone Insurance dipped by 6.15 per cent to close at N1.22 kobo.
Chams depreciated by four kobo to close at 96 kobo. Veritas Kapital declined by 3.85 per cent to close at 25 kobo. Fidelity Bank dropped 3.38 kobo to close at N7.15 kobo. RedStar Express lost 3.03 per cent to close at N3.20 kobo.
Honeywell flour mills shed 2.50 per cent to close at N3.12 kobo. Sunu Assurance fell by 2.44 per cent to close at 80 kobo. FBN Holdings also dropped 1.60 per cent to close at N18.50 kobo.
VolumeThe volume of trades declined by 305.985 million, representing 56.91 per cent as investors traded 231.599 million shares valued at N3.992 billion in 5494 deals against 537.584 million shares worth N9.394 billion exchanged hands the previous day in 5893 deals.
Transactions in the shares of Transcorps led market activities during the day with 36.837 million shares valued at N159.312 million, Universal Insurance followed with an account of 16.989 million shares worth N3.611 million.
GTCO Plc traded 15.442 million shares worth N563.447 million, Jaiz Bank traded 14.464 million shares valued at N22.895 million, and Chi Plc exchanged 12.754 million shares valued at N10.69 million.
