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Bullish trend persists, as equity trading soar by 201%

By Chinedu Ibeabuchi
The upward swing in the  share value of majority of the listed equities on the Nigeria Stock Exchange (NSE), continued, Tuesday, as the market value apprecia

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ted by N10.5 billion.

The rise in the value of listed equities, buoyed the key market indices, the market capitalisation and the All-share index by 0.2 per cent respectively .

Specifically, the market capitalisation which opened at N5.354 trillion rose by N10.5 billion to close at N5.364 trillion, while the All-share Index garnered 44.97 points to close at N23.071.66 points from 23.026.69 points at which it opened.

Also, equity trading, heightened by investors’ preference for shares of Access Bank Plc  appreciated by 201.7 per cent.
The bullish trend was occasioned by gains in the share prices of majority of the blue chips companies, with Oando Plc recording the highest share price appreciation, rising by N4.37 to close at N91.87 per share from N87.50 at which it opened, followed by Nigeria Breweries Plc with a gain of N2.40 to close at N55.90 per share and Julius Berger Nigeria Plc garnered N1.09 to close at N27.79 per share.

Other share price gainers include: UACN Property Development Company Plc N1.00, Ecobank Transnational Incorporated N0.63, GTBank Plc N0.61, Nigerian Aviation Handling Company N0.43, Union Bank Nigeria Plc N0.39, Stanbic IBTC Bank Plc N0.39 and Ashaka Cement Company Plc N0.37, among others.

On the contrary, First Bank recorded the highest share price loss, dropping by N0.79 to close at N15.17 per share from N15.96 per share at which it opened, followed by Unilever Nigeria Plc, dipping by  N0.79 to close at N15.11 per share and Zenith Bank Plc lost N0.77 to close at N14.65 per share.

Other share price losers include United Bank for Africa Plc N0.76, Eterna Oil and Gas Plc N0.72, Dangote Sugar Refinery Plc N0.71, African Petroleum Plc N0.50, PZ Cussons Nigeria Plc N0.48, Diamond Bank Plc N0.37 and Cement Company of Northern Nigeria Plc N0.29, among others.

A turnover of 926.54 million shares valued at N7.38 billion was recorded in 7,037 deals, appreciating by 201.7 per cent from the previous day’s trading of 307.07 million shares valued at N2.05 billion in 4,939 deals.

This was occasioned by investors preference for the shares of Access Bank Plc which drove transactions in the Banking sub-sector. The Banking sub-sector accounted for 82 per cent of the total market turnover, with 759.67 million shares valued at N6.29 billion in 4,188 deals.

Trading in the shares of Access Bank Plc accounted for 55 per cent of the total transaction in Banking Sub-sector, with 419.85 million shares valued at N2.98 billion in 179 deals, followed by Zenith Bank Plc exchanging 65.93 million shares valued at N983.80 million in 336 deals and First Bank of Nigeria Plc recorded 37.29 million shares valued at N584.46 million in 1,114 deals.

The Insurance sub-sector followed in the sectorial analysis, accounting for 6.4 per cent of the market turnover, with 58.92 million shares valued at N54.86 million in 399 deals. Cornerstone Insurance Company Plc emerged the most active in the sub-sector with 19.02 million shares valued at N19.18 in 24 deals, followed by International Energy Insurance Plc, exchanging 9.76 million shares valued at N7.12 million in 49 deals and Standard Alliance Insurance Plc recorded 8.05 million shares valued at N7.1 million in 36 deals.


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