Investors’ wealth appreciate by N214b in three trading days


Following price gains recorded by most highly capitalised stocks, equity transactions on the trading floor of Nigerian Stock Exchange (NSE), remained upbeat yesterday, as investors’ wealth appreciated by N214billion in three trading days.

Specifically, the market capitalisation of the NSE, which opened the week with N12.933trillion on Monday, closed at N13.147trillion yesterday, adding N214billion or 1.6 per cent.

Similarly, the All-share index rose by 618.64 points from 37,525.38 to 38,144.02. On the price movement chart, 21 stocks appreciated, led by Guinness Nigeria with 10.23 per cent to close at N87.50 per share.

Jaiz Bank followed with 10.00 per cent to close at N0.88 per share. Nigerian Aviation Handling Company gained 9.97 per cent to close at N3.75 per share. Dangote Flour Mills added 9.55 per cent to close at N7.00 per share.

Vitafoam, Mansard, Union Bank garnered 5.02, 4.95, and 4.91 per cent to close at N2.93, N2.12, and N5.56 per share respectively. First Aluminium also gained 4.76 per cent to close at N0.66 per share.

On the other hand, 23 stocks constituted the losers’ chart as Champion Breweries emerged the day’s highest price loser with 9.32 per cent to close at N2.53 per share. Livestock followed, shedding 5.00 per cent to close at N0.95 per share.

Conoil depreciated by 4.97 per cent to close at N32.86 per share. Continental Reinsurance dropped 4.51 per cent to close at N1.27 per share. Eternaoil lost 4.50 per cent to close at N3.61 per share.

Similarly, NEM depreciated by 4.24 per cent to close at N1.13 per share. Ecobank TransNational Incorporated shed 3.84 per cent to close at N17.30 per share. Wema Bank lost 3.77 per cent to close at N0.51 per share. TransNational Corporation dropped 3.42 per cent to close at N1.41 per share.

On the activity chart, the banking subsector dominated in volume terms with N155 million shares exchange in 1,429 deals while the personal and Household products followed with 51 million units in 1,259 deals.

The banking subsector was buoyed by activities in the shares of Jaiz Bank with 48 million units in 99 deals, while Access Bank followed with 23 million units in 257 deals. On the whole, investors exchanged 3.28 million shares in 4,983 deals.

Source: TheGuardian

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