The Nigerian Stock market closed on a bright spot with an enormous gain of ₦450billion yesterday. The upturn in the equity market was realised from gains recorded from the domestic companies of large and medium capitalised stocks, amongst which are; Airtel Africa, Oando, Seplat Energy, Ardova, and Nigerian Exchange Group (NGXGroup).
The All-Share Index (ASI), which measured the performance of quoted companies at the close of trade yesterday, recorded an increase of 450.52 points or 1.05% to 43,476.75 from 43,026.23 at which was posted on Tuesday.
Similarly, the year-to-date revenue rose to 1.8% and the market capitalisation of listed equities inched up by ₦450billion from ₦23.183trillion to ₦23.426trillion.
The market sentiment measured by the market breadth was positive with a record 21 stock market gainers’ chart and 13 losers’ chart.
Analysts from the Afrivest Ltd said, “In the next trading session, we expect the market to sustain this positive momentum as investors cherry-pick on stocks with attractive valuation.”
On the Price Chart, Airtel Africa top the gainers’ chart with a percentage of 10% to close at ₦1,050.50 per share.
Oando followed the chart with 9.73% to close at ₦4.85. As AIICO Insurance company appreciated by 8.33% to close at 78kobo per share.
Ardova rose by 7.69% to close at ₦12.60, while Caverton Offshore Support Group rose up by 6.25% to close at ₦1.70kobo per share. While Regency Alliance Insurance Company lost 8.16% to close at 45kobo per share.
Fidson rose by 6.11% to close at ₦6.60kobo; UPDC appreciated by 6.09% to close at 1.22kobo. Lasaco added by 5.77% to close at ₦1.10kobo. Chams also added by 5% to close at 2kobo. Union Bank Of Nigeria dipped 6.90% to close at ₦5.40kobo.
Mutual Benefits Assurance sheds 6.25% to close at 30kobo per share. While Livestock Feeds lose by 5.85% to close at ₦1.93kobo.
Relatively, the total volume of trades increased by 472.8% with an exchange of 1.24billion units valued at ₦42.97billion exchanged in 4,032 deals.
However, Unity Bank emerged the day’s highest price loser with 9.62% to close at 77kobo while Royal Exchange followed with 9.41% to close at 45 kobo. It was against a report of 216.65million shares worth ₦1.52billion, earned from 4,080deals on Tuesday.
Transactions in the shares of BUA Foods appreciated the activity chart with 1.007billion shares valued at ₦40.534million. WEMA Bank followed with 25.015million shares in the value of ₦19.014million, as Transnational Corporation of Nigeria, Transcorp traded 24.96million shares, worth of ₦24.624million. NGX Group traded 14.54million shares valued at ₦285.75million, while United Bank of Africa (UBA) transacted 13.95million shares worth ₦112.244million.
