Nigerian equities yesterday opened the week on a positive note, extending gains from the previous session as the All-Share Index closed 0.24 per cent stronger, driven by gains in Presco Plc and 18 others.
The All Share Index (ASI) rose by 115.58 absolute points, representing a gain of 0.24 per cent to close at 48,270.23 points. Accordingly, investors gained N62 billion in value as market capitalisation went up to N26.291 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Presco, Guinness Nigeria, BUA Cement, Nigerian Breweries and Eterna.
This week, analysts at United Capital Plc, anticipated potential market gains to be moderated as investors book profits, switch asset classes, and turn their attention towards the fixed-income markets following the MPC’s recent 100bps MPR hike decision.
Also, market breadth closed positive as 19 stocks posted gains while 16 declined. Guinness Nigeria recorded the highest price gain of 10 per cent to close at N69.30, per share. Eterna followed with a gain 8.78 per cent to close at N6.44, while Royal Exchange went up by 8.33 per cent to close at 78 kobo, per share.
Linkage Assurance went up by 7.50 per cent to close at 43 kobo, while Presco appreciated by 6.64 per cent to close at N120.50, per share. On the other hand, Geregu Power led the losers’ chart by 9.85 per cent to close at N110.70, per share. SCOA Nigeria followed with a decline of 9.43 per cent to close at 96 kobo, while Thomas Wyatt Nigeria went down by 9.09 to close at 40 kobo, per share.
R.T. Briscoe Nigeria lost 7.41 per cent to close at 25 kobo, while Lasaco Assurance shed 4.49 per cent to close at 85 kobo, per share.
The total volume traded increased by 303.56 per cent to 645.026 million shares, worth N4.190 billion, and traded in 3,486 deals. Transactions in the shares of UPDC Real Estate Investment Trust topped the activity chart with 460.705 million shares valued at N1.612 billion. FBN Holdings (FBNH) followed with 83.792 million shares worth N921.725 million, while Zenith Bank traded 11.505 million shares valued at N258.542 million.
Transnational Corporation of Nigeria (Transcorp) traded 10.461 million shares valued at N12.295 million, while Guaranty Trust Holding Company (GTCO) transacted 8.254 million shares worth N176.622 million.
