Stock Market Gains N3bn, Trades 1.82bn Shares

Stock Market Gains N3bn, Trades 1.82bn Shares

The domestic stock market yesterday return back to positive position by N3 billion gain as the market traded 1.820 billion shares.

The All Share Index (ASI) rose by 11.54 absolute points, representing a gain of 0.02 per cent to close at 51,138.92 points. Accordingly, investors gained N3 billion in value as market capitalisation went up to N27.853 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nigerian Aviation Handling Company (NAHCO), Nigerian Breweries, Africa Prudential, Eterna and Flour Mills of Nigeria.

On market outlook, GTI Securities Limited said “the Nigerian equity market gained marginally yesterday. However, Investors are cautious as the market remains uncertain and striving towards recovery. Companies Q1, 2023 performances could be a driver for a positive shift.”

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As measured by market breadth, market sentiment was mixed, as an equal number of stocks (21) gained and lost. Transnational Corporation (Transcorp)  recorded the highest price gain of 9.73 per cent to close at N2.03, per share. R. T. Briscoe Nigeria followed with a gain 9.09 per cent to close at 24 kobo, while International Energy Insurance rose by 7.50 per cent to close at N1.29, per share.

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NAHCO went up by 5.45 per cent to close at N11.60, while Africa Prudential  appreciated by 4.81 per cent to close at N5.45, per share. On the other hand, Vitafoam Nigeria led the losers’ chart by 8.65 per cent to close at N16.90, per share. Linkage Asurance followed with a decline of 8.33 per cent to close at 44 kobo, while Chams Holding Company  went down by 8.00 to close at 23 kobo, per share. 

Sovereign Trust Insurance lost 6.90 per cent to close at 27 kobo, while Courteville Business Solutions shed 6.67 per cent to close at 42 kobo, per share.

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The total volume traded increased by 703.18 per cent to 1.820 billion units, valued at N5.020 billion, and exchanged in 4,669 deals. Transactions in the shares of Transcorp topped the activity chart with 1.602 billion shares valued at N3.092 billion. Livingtrust Mortgage Bank followed with 69.974 million shares worth N205.053 million, while Fidelity Bank traded 15.974 million shares valued at N82.335 million.

Sterling Bank traded 13.538 million shares valued at N19.889 million, while United Bank for Africa (UBA) transacted 13.097 million shares worth N102.074 million.

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