Monday, October 2, 2023

Stocks: Price appreciation pushes market gain by 0.13%

The market sentiment closed positive with 18 gainers against eight laggards.

• June 17, 2021
market graph
A photo of a market graph used to illustrate the story[photo credit:pinterest]

The domestic equities market extended positive growth on Thursday with the key indices appreciating further by 0.13 per cent.

Specifically, the All-Share Index rose by 50.44 points or 0.13 per cent to close at 38,615.11 compared with 38,564.70 posted on Wednesday.

Accordingly, month-to-date gain increased to 0.5 per cent, while year-to-date loss moderated to 4.1 per cent.

Also, the market capitalisation garnered N26 billion or 0.13 per cent to close at N20.125 trillion.

The market upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Nigerian Breweries, Berger Paints, Guaranty Trust Bank, Champion Breweries and UACN.

The market sentiment closed positive with 18 gainers against eight laggards.

Champion Breweries led the gainers’ chart in percentage terms with 10 per cent to close at N1.98 per share.

Wapic Insurance followed with 9.43 per cent to close at 58k, while Lasaco Assurance was up by 7.91 per cent to close at N1.50 per share.

Berger Paints Nigeria rose by 7.69 per cent to close at N7.70, while Mutual Benefits Assurance gained 6.52 per cent to close at 49k per share.

Conversely, Consolidated Hallmark Insurance drove the losers’ chart in percentage terms by 8.96 per cent to close at 61k per share.

Unity Bank followed with 3.51 per cent to close at 55k, while Sterling Bank shed 1.91 per cent to close at N1.54 per share.

International Breweries dipped 1.82 per cent to close at N5.40, while Linkage Assurance shed 1.79 per cent to close at 56k per share.

Meanwhile, the total volume of shares transacted decreased by 47.0 per cent as investors bought and sold 160.44 million shares valued at N1.39 billion exchanged in 3,260 deals.

This was in contrast with a turnover of 302.72 million shares worth N2.81 billion achieved in 4,387 deals on Wednesday.

Transactions in the shares of Wema Bank topped the activity chart with 27.24 million shares valued at N15.003 million.

Mutual Benefits Assurance followed with 21.393 million shares worth N10.51 million, while Zenith Bank traded 16.27 million shares valued at N382.13 million.

Sterling Bank traded 12.29 million shares valued at N18.84 million, while FBN Holdings transacted 7.92 million shares worth N57.12 million. 


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