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Bullish trend persists, drives share value by N33bn

By Chinedu Ibeabuchi

Driven by continued increase in the share prices of quoted securities, the value of listed equities on the Nigerian Stock Exchange (NSE), rose by N32.9 billion.

Specifically, the value of listed equities, represented by the market capitalisation, appreciated by 0.57 per cent to close at N5.756 trillion from N5.723 trillion at which it opened.
The all-share index, another key market indicator, rose by 143.46 basis points to close at 25,110.91 points from 24,967.45 points at which it opened.

Benue Cement Company Plc recorded the most share price gain, rising by N2.08 to close at N43.75 per share from N41.67 per share at which it opened, followed by Seven-Up Bottling Company Plc with a gain of N1.70 to close at N35.87 per share and Julius Berger Nigeria Plc garnered N1.48 to close at N31.27 per share.

Other share price gainers include: Nigeria Bottling Company Plc N1.01, Flour Mills Nigeria Plc N1.00, Guinness Nigeria Plc N0.99, Dangote Sugar Refinery Plc N0.83, Ecobank Transnational Incorporated  N0.74, UACN Property Development Company Plc N0.67 and Zenith Bank Plc N0.66 among others.
On the contrary, Oando Plc topped the losers’ table, dropping N4.85 to close at N92.15 per share from N97.00 per share at which it opened, followed by Africa Petroleum Plc losing N3.82 to close N72.68 per share and Nigeria Breweries Plc lost N2.00 to close at N54.00 per share.

Other share price losers include: Intercontinental Bank Plc N0.36, Access Bank Plc N0.35, GTBank Plc N0.35, First Bank of Nigeria Plc N0.35, Custodian and Allied Insurance Plc N0.14, A.G Leventis Nigeria Plc N0.12 and C & I Leasing Plc N0.11, among others.
Equity trading appreciated by 9.6 per cent, as a turnover of 519.24 million shares valued at N3.36 billion was recorded in 9,158 deals in contrast to the previous day’s trading of 473.92 million shares valued at N3.30 billion in 9,472 deals.

The banking sub-sector retained its dominance as the most sought after, accounting for 76.2 per cent of the market turnover, with 395.6 million shares valued at N2.69 billion in 5,491 deals. Finbank recorded the most patronage in the sub-sector, trading 141.5 million shares valued at N281.74 million in 97 deals, followed by Skye Bank Plc trading 54 million shares valued at 331.4 million in 320 deals and Zenith Bank Plc recorded 41.8 million shares valued at N585.2 million in 620 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 10.7 per cent of the market turnover with 55.6 million shares valued at N52.8 million in 1,024 deals. AIICO Insurance Plc enjoyed the highest patronage in the sub-sector, with 14.5 million shares valued at N15.55 million in 608 deals, followed by International Energy Insurance Plc trading 13.8 million shares valued at N13.5 million in 89 deals and Lasaco Assurance Plc recorded 6.8 million shares valued at N4.6 million in 48 deals.


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