NSE market indices resume week with 0.93% gain

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THE nation’s bourse re-opened trading for the week on Monday on a positive trend, growing by 0.93 per cent due to price appreciation in high capitalised stocks.

Specifically, the All-Share Index inched higher by 233.66 points to close at 25,249.96, against 25,016.30 on Friday.

Similarly, the market capitalisation rose by N122 billion to close at N13.171 trillion, compared with 13.049 trillion achieved on Friday.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; MTN Nigeria, BUA Cement, Nigerian Breweries, UACN and Vitafoam.

Analysts at Afrinvest Limited expect a mixed performance for the week as the market presents opportunities for bargain hunting and profit taking.

Market sentiment, as measured by market breadth, closed positive with 31 gainers and 11 decliners.

A breakdown of the price movement table indicates that Wapic Insurance led the gainers’ chart in percentage terms, gaining 10 per cent, to close at 33k per share.

Fidson followed with 9.80 per cent to close at N3.25, while Associated Bus Company rose by 9.76 per cent to close at 45k per share.

Neimeth grew by 9.60 per cent, to close at N1.94, while Consolidated Hallmark appreciated by 9.52 per cent to close at 46k per share.

Conversely, Japaul Oil dominated the decliners’ chart in percentage terms, dropping 10 per cent, to close at 27k per share.

Cornerstone Assurance trailed with 9.09 per cent to close at 50k, while Chams declined by 7.41 per cent to close at 25k per share.

Transcorp lost 5.19 per cent to close at 73k, while Courteville Business Solutions shed 4.76 per cent to close at 20k per share.

The total volume of shares traded increased by 7.46 per cent with an exchange of 230.49 million shares valued at N2.17 billion in 4,621 deals.

This was in contrast with 214.49 million shares worth N2.51 billion transacted in 4,342 deals on Friday.

Transactions in the shares of FBN Holdings topped the activity chart with 34.50 million shares valued at N188.35 million.

Guaranty Trust Bank followed with 22.88 million shares worth N550.14 million, while Japaul Oil accounted for 21.21 million shares valued at N6.37 million.

United Bank for Africa traded 19.54 million shares worth N131.95 million, while Zenith Bank transacted 19.27 million shares valued at N327.06 million.

NAN

– June 8, 2020 @ 19:10 GMT |

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