Stock Market Gains N141bn to  Maintain Positive Momentum

Kayode Tokede   

The Nigerian stock market yesterday gained N141 billion to maintain its positive momentum for consecutive trading sessions helped by buy interest in select banking, telecom, and consumer goods stocks.

At the close of trades, the Nigerian Exchange Limited All Share Index (NGX ASI) gained by 219.87 basis points or 0.11 per cent to close at 200,925.75 basis points from 200,705.88basis points when it opened for trading.

Also, market capitalisation gained N141 billion to close at N128.977 trillion as against N128.836 trillion it opened for trading. 

Market breadth was broadly flat, as 32 stocks declined, narrowly outpacing 31 advancers. Legend Internet recorded the highest price gain of 10 per cent to close at N7.26 and N7.15, while Zichis Agro Allied Industries and Premier Paints followed with a gain of 9.93 per cent each to close at N11.40 and N31.00 respectively, per share.

John Holt increased by 9.79 per cent to close at N15.70, while Consolidated Hallmark Insurance up by 6.26 per cent to close at N5.26, per share.

On the other hand, Fidson Healthcare led the losers’ chart by 9.97 per cent to close at N94.85, per share. Austin Laz & Company followed with a decline of 9.89 per cent to close at N4.01, while LivingTrust Mortgage Bank declined by 7.08 per cent to close at N4.46, per share.

Secure Electronic Technology depreciated by 7.04 per cent to close at N1.32, while Sterling Financial Holdings Company declined by 5.56 per cent to close at N7.65, per share.

Meanwhile, the total volume traded declined by 58.34 per cent to 236.487 million units, valued at N9.991 billion, and exchanged in 20,919 deals. Transactions in the shares of Access Holdings topped the activity chart with 266.788 million shares valued at N6.022 billion. GTCO followed with 184.376 million shares worth N19.393 billion, while Wema Bank traded 182.483 million shares valued at N4.779 billion.

United Bank for Africa (UBA) traded 119.050 million shares valued at N5.752 billion, while Zenith Bank sold 42.706 million shares worth N4.574 billion.

On market performance, Imperial Asset Managers Limited said, “overall, the session reflects sustained but cautious investor interest, with selective buying observed in fundamentally sound and mid-cap stocks, while profit-taking persisted in some banking and growth stocks.”