Equities

Equities Investors Record N218bn Gains

Sentiments remained positive in the domestic stock market yesterday with a gain of N218 billion, as investors took positions in MTN Nigeria Communications (MTNN) and 19 others.

In summary, the All-Share Index (ASI) grew by 416.24 absolute points, representing an increase of 0.99 per cent to close at 42,435.16 points. While the overall market capitalisation value gained N218 billion to close at N22.143 trillion.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; SEPLAT Energy, MTNN, Dangote Suagr Refinery, Lafarge Africa and United Bank for Africa (UBA).

Market sentiment, as measured by market breadth, was positive as 20 stocks gained, relative to 11 losers. LivingTrust Mortgage Bank recorded the highest price gain of 9.09 per cent to close at 96 kobo, per share. Meyer Plc followed with a gain 7.69 per cent to close at 28 kobo, while AXA Mansard Insurance up by 7.25 per cent to close at N2.22, per share.

Dangote Sugar Refinery rose by 6.67 per cent to close at N16.00, while Honeywell Flour Mills appreciated by 6.51 per cent to close at N3.60, per share.

On the other hand, Cutix led the losers’ chart by 9.69 per cent, to close at N2.61, per share. Royal Exchange followed with a decline of 8.06 per cent to close at 57 kobo, while Mutual Benefits Assurance declined by 7.69 per cent to close at 24 kobo, per share.

Sovereign Trust Insurance shed 4.17 per cent to close at 23 kobo, while Nigerian Aviation Handling Company (NAHCO) depreciated by 2.51 per cent to close at N3.50, per share.

The total volume of trades increased by 1.6 per cent to per cent to 649.767 million units, valued at N7.204 billion, and exchanged in 3,757 deals.

Transactions in the shares of FBN Holdings (FBNH)  topped the activity chart with 441.928 million shares valued at N5.040 billion. Sterling Bank followed with 64.434 million shares worth N95.944 million, while Guaranty Trust Holding Company (GTCO) traded 20.671 million shares valued at N501.362 million.

UBA traded 14.727 million shares valued at N115.953 million, while Access Bank transacted 12.302 million shares worth N110.597 million.


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