Improved price gains spike capitalisation by N34 billion

Price gains in many blue-chip stocks, especially Johnholt and ABC Transport, aided transactions on the Nigerian Exchange Limited (NGX) in sustaining its bulls’ run at the end of yesterday’s transactions, causing market capitalisation to appreciate further by N34 billion.

Yesterday, market capitalisation of listed equities increased by 0.17 per cent to N20.092 trillion from N20.058 trillion recorded on Wednesday. Also, the All Share Index also increased by 65.72 basis points to 38548.24 points from 38482.52 points reported the previous day.

Investors traded 249.686 million shares valued at N1.875 billion in 3524 deals against 156.905 million shares worth N1.329 billion that exchanged hands the previous day in 3273 deals.

On what will shape the market performance tomorrow, analysts at Vetiva Dealing and Brokerage said: “With the market currently experiencing a mild positive patch, we foresee further buy-sentiment in tomorrow’s session. However, we do not rule out the possibility of profit-taking in the session to close out the week.”

A review of the market activities showed that UPL led the gainers’ table with 10 per cent to close at N1.54 kobo while  Berger Paints followed with a gain of 9.84 per cent to N6.70 kobo.  Johnholt gained 9.43 per cent to close at N0.58 kobo.   ABC Transport Company gained 8.82 per cent to close at N0.37 kobo, Africa Prudential Plc increased by 6.90 per cent to N6.20 kobo.

On the contrary, CWG topped losers’ chart, declining by 9.63 per cent to close at N1.69 kobo.

Union Bank of Nigeria Plc trailed with a loss of 6.72 per cent to close at N5.55 kobo, Sovereign Trust Insurance declined by 6.67 per cent to close at N0.28 kobo.

Courtivelle Business Solution dipped by 4.76 per cent to close at N0.20 kobo.  Japaul Gold fell by 3.39 per cent to N0.57 kobo.

Sovereign Trust Insurance was the toast of investors during the day, exchanging 35.505 million shares valued at N9.724 million, Zenith Bank followed with account of 27.505 million shares cost N632.281 million,.

FCMB group traded 22.684 million shares valued at N72.230 million, Mansard sold a total of 16.868 million shares worth N15.180 million while Fidelity Bank traded 14.540 million shares valued at N32.329 million.