The Nigerian equities market closed on a positive note with a gain of 0.27 per cent, as investors’ interest in Dangote Cement and 19 other stocks spurred yesterday’s performance.
The All-Share Index (ASI) increased by 67.28 absolute points, representing a growth of 0.27 per cent to close at 25,316.15 points. Similar, the overall market capitalisation size increased by N47 billion to close at N13.241 trillion.
The uptrend was impacted by gains recorded in large and medium capitalized stocks, amongst which are; Dangote Cement, Guaranty Trust Bank, MTN Nigeria Communications, NASCON Allied Industries and Skyway Aviation Handling Company.
In its report on ‘Equities Market: On the path of recovery’, United Capital Plc said that “This month, we expect the low yield environment in the fixed income space to continue to spur local interest for equities, especially in stocks with prospect of paying interim dividends. In all, we advise investors to continue to position in value and growth stocks, that can deliver profitable returns on their portfolios.”
Market sentiment, as measured by market breadth, was positive, as 20 tickers gained, relative to 18 decliners. Neimeth International Pharmaceuticals recorded the highest price gain of 9.84 per cent, to close at N1.34, per share. University Press followed with a gain 9.65 per cent to close at N1.25, while Skyway Aviation Handling Company rose by 9.52 per cent to close at N2.07, per share.
Japaul Oil & Maritime Services went up by 9.09 per cent, to close at 24 kobo, while Associated Bus Company appreciated by 8.57 per cent to close at 38 kobo, per share. On the other hand, Prestige Assurance led the losers’ chart by 10 per cent, to close at 54 kobo, per share. Omatek Ventures Plc followed with a decline of 9.68 per cent to close at 28 kobo, while Champion Breweries declined by 9.09 per cent to close at 90 kobo, per share.
Union Bank of Nigeria (UBN) lost 8.21 per cent to close at N6.15, while UAC of Nigeria (UACN) shed 6.67 per cent to close at N8.40, per share.
The total volume of trades rose by 49.18 per cent to 377.883 million units, valued at N6.059 billion and exchanged in 4,585 deals. Transactions in the shares of Nigerian Breweries topped the activity chart with 50.458 million shares valued at N2.22 billion. Guaranty Trust Bank followed with 40.447 million shares worth N1.012 billion, while Zenith Bank traded 34.898 million shares valued at N599.03 million.
Aiico Insurance traded 29.464 million shares valued at N31.125 million, while FBN Holdings transacted 27.695 million shares worth N151.081 million.