Bellwethers lift stock market index by 0.45%

Transactions on the equities sector of the Nigerian Stock Exchange (NSE), closed upbeat yesterday, occasioned by gains in many bellwethers, as the All-Share Index (ASI) rose marginally by 0.45 per cent.

The ASI increased by 133.08 absolute points, representing a growth of 0.45 per cent to close at 29,591.29 points.

The overall market capitalisation gained N68 billion to close at N15.242 trillion.

The upturn was impacted by gains recorded in medium and large value stocks, amongst which are; Seplat Petroleum Development Company, Chemical and Allied Products (CAP), Dangote Cement, Unilever Nigeria, and BUA Cement.

Analysts at Afrinvest Limited predicted that the upturn would be sustained amid renewed buying interest.

Market breadth closed at par with 14 gainers and losers. CAP recorded the highest price gain of 10 per cent to close at N27.50 per share.

Unilever Nigeria followed with 8.06 per cent to close at N19.45, while Chams rose 6.45 per cent to close at 33 kobo, per share.

Transnational Corporation of Nigeria (Transcorp) edged 4.85 per cent to close at N1.08, and Fidelity Bank 4.55 per cent to close at N2.30, per share.

On the other hand, Linkage Assurance led the losers’ chart with 8.33 per cent to close at 44 kobo per share.

Wapic Insurance followed with 7.89 per cent to close at 35 kobo, and Honeywell Flour Mills lost 7.69 to close at N1.08, per share.

Aiico Insurance was down 5.68 per cent to close at 83 kobo, while Jaiz Bank shed 4.41 per cent to close at 65 kobo, per share.

However, the total volume traded fell by 37.6 per cent to 196.93 million shares worth N7.71 billion, traded in 2,915 deals.

Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 26.596 million shares valued at N227.02 million.

FCMB Groups followed with 23.44 million shares worth N46.63 million, while Access Bank traded 20.39 million shares at N206.097 million.

Guaranty Trust Bank traded 15.99 million shares valued at N513.65 million, while Zenith Bank transacted 15.23 million shares worth N334.99 million.