NSE sustains positive profile as capitalisation gains N13b

Nigerian Stock Exchange

By Helen Oji
Trading on the Nigerian Stock Exchange (NSE) continued in an upward note, yesterday, as more blue-chip stocks appreciated, resulting in a further rise in market capitalisation by N13 billion.
   
At the close of transactions, the All-Share Index (ASI) grew by 25.8 absolute points, representing an increase of 0.07 per cent to close at 38,799.83 points. Also, the market capitalisation value gained N13 billion to close at N20.3 trillion.
   
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Okomu Oil, Zenith Bank, Guaranty Trust Bank, Oando and Access Bank.

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Analysts at Afrinvest Limited said: “In the last trading session of the week, we expect to see a mild reduction in the market gains as investors tilt a little towards the fixed income market.”
   
Market sentiment was positive as 13 stocks appreciated while 12 constituted the losers chart. Consolidated Hallmark Insurance emerged the day’s highest price gainer with 9.68 per cent to close at 34 kobo. Japaul Gold and Ventures followed with a gain of 9.43 per cent to close at 58 kobo.
   
Oando appreciated by 5.16 per cent to close at N3.26 kobo. AIICO Insurance rose by five per cent to close at N1.26 kobo while Zenith Bank added 3.81 per cent to close at N21.80 kobo.
  
On the other hand, Royal Exchange led the losers’ chart by 7.69 per cent, to close at 36 kobo while Jaiz Bank followed with a decline of 6.06 per cent, to close at 62 kobo.
  
Honeywell Flour Mill shed 5.04 per cent to close at N1.13, while Daar Communications and Linkage Assurance depreciated by 4.76 per cent each to close at 20 kobo and 80 kobo respectively.
  
However, the total volume of trades decreased by 59.2 per cent to 145.332 million units, valued at N1.576 billion, and exchanged in 3,525 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 21.851 million shares valued at N157.179 million.
  
Guaranty Trust Bank followed with 20.5 million shares worth N589.173 million, while Zenith Bank traded 17.584 million shares valued at N379.878 million.
   
Access Bank traded 8.596 million shares valued at N68.887 million, while Japaul Gold and Ventures transacted 7.58 million shares worth N4.339 million.