Equities Record Gradual Rebound
By Jerome Ushakang and Tunyosola Ayansiji
Bullish transactions returned to the stock market yesterday as equity prices recorded improved performance after a few weeks of bearish (price losing) trading.
Consequent upon, the positive results of yesterday's trading, the market capitalisation appreciated to N1.693 trillion from N1.655 trillion recorded last Friday. This represents an increase by 2.3 per cent or N38 billion.
Similarly, the all-share index increased to 23,880.51 from 23,339.29 recorded at the weekend.
Investment analysts believe that the percentage rise of 2.3 per cent or N38 billion was an indication of the good things to come in days ahead.
Meanwhile, the banking sector emerged the most active in terms of turnover of traded shares that stood at a total 49.8 million ordinary shares valued at N663.2 million exchanged in 1,545 deals. Standard Trust Bank Plc topped the activity chart as the most traded in the banking subsector with a total of 21.571 million ordinary shares worth N101.433 million exchanged in 46 deals.
Also, the breweries subsector followed on the activity performance chart of the most actively traded as it recorded a 3.7 million ordinary shares worth N208.2 million made in 642 deals. In the breweries subsector, Nigerian Breweries Plc topped the list as it exchanged 3.2 million ordinary shares valued at N138.8 million executed in 496 deals.
Similarly, the petroleum marketing subsector recorded a total of 542,055 ordinary shares valued at N66.4 million exchanged in 284 deals. Total Nigeria Plc emerged the most active in the petroleum subsector as it recorded 153,074 ordinary shares worth N25.6 million exchanged in 58 deals.
On the whole, a total or 64.4 million ordinary shares changed hands for N1.039 million in 3,470 deals.
Meanwhile, analysis of the price movement performance revealed that 22 companies appreciated between one kobo and 599 kobo, 55 lost between one kobo and 532 kobo. Guinness Nigeria Plc topped the price gainers' chart with 599 kobo to close at N132.99 per share. Other top price gainers included: Mobil Oil Nigeria Plc (599 kobo), Conoil Plc (293 kobo), Cadbury Nigeria Plc (274 kobo), Nigerian Breweries Plc (212 kobo), Union Bank of Nigeria Plc (178 kobo), First bank of Nigeria Plc (106 kobo), Unilever Nigeria Plc (65 kobo), West African Portland Company Plc (60 kobo), United bank for Africa Plc (47 kobo), GlaxoSmithKline Consumers Plc (39 kobo), Ashaka Cement Plc (17 kobo) and Vitafoam Nigeria Plc (14 kobo).
Mobil gained N5.67 kobo to close at N137.68 kobo, while Conoil with a gain of N2.93 kobo to close at N125 was third.
However, Texaco Nigeria Plc lost N5.32 kobo to close at N143 per share, Nestle Nigeria Plc suffered a loss of N4.05 to close at N140 per share while total Nigeria Plc lost N2.50 to close at N166.50 per share . The three companies were the three top losers.
However, Texaco Nigeria Plc topped the price losers' chart with a loss of 532 kobo to close at N143.00 per share. Other top price losers included: Nestle Foods Plc (405 kobo), Total Nigeria Plc (250 kobo), Flour Mills Nigeria Plc (80 kobo), 7Up Bottling Company Plc (51 kobo), UAC Property Development Company Plc (35 kobo), Berger Paints Plc (20 kobo) and Wema Bank Plc (18 kobo).
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