Equity market: Capitalisation gains N53bn

Wed, Dec 7, 2022
By editor


THE equity market on Tuesday maintained a bullish trend, gaining N53 billion amid sustained buying interest in large and medium stocks.

The market capitalisation which rose by N53 billion, or 0.20 per cent, closed at N26.344 trillion as against N26.291 trillion on Monday.

Also, the All-Share Index was up by 96.46 points or 0.20 per cent to close at 48,366.69 compared to 48,270.23 on Monday.

The market’s positive performance was largely driven by some stocks, which included United Bank for Africa (UBA), BUA Cement, Ecobank Transnational Incorporated and WAPCO Cement.

Consequently, the year-to-date (YTD) return rose to 13.23 per cent.

Market breadth closed positive as 15 stocks advanced, while 12 declined.

Honeywell flour Mill led the gainers’ chart in percentage terms by 8.06 per cent to close at N3.28 per share.

Champion Breweries followed with 7.14 per cent to close at N3.75, while ETI rose 4.98 per cent to close at N10.55 per share.

LASACO Assurance appreciated by 4.71 per cent to close at 89k, while RT Briscoe garnered four per cent to close at 26k per share.

Conversely, UPDC dominated the losers’ chart in percentage terms with 7.07 per cent to close at 92k per share.

Wema Bank followed with 6.12 per cent to close at N3.22, while FTN Cocoa Processors declined by 3.33 per cent to close at 29k per share.

WAPIC Assurance lost by 2.63 per cent to close at 37k, while Oando depreciated by 2.44 per cent to close at N3.90 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 13.37 per cent

A total of 182.80 million shares valued at N3.55 billion were exchanged in 3,189 deals.

Also, the total volume traded rose by 24.8 per cent to 297.25 million units valued at N4.69 billion and exchanged in 4,661 deals.

Transactions in the shares of FBN Holdings topped the activity chart with 66.11 million shares valued at N727.03 million.

Transcorp followed with 36.6million shares worth N43.45 million, while Geregu Power traded 17.47 million shares valued at N1.75 billion.

Access Corporation traded 7.35 million shares valued at N62.93 million, while R.T.Briscoe transacted 5.63 million shares worth N1.53 million. (NAN)