Stock market inches up marginally with N1bn gain
Activities on the Nigerian Stock
Exchange on Wednesday sustained positive sentiment with a marginal gain
as the market indicators rose by 0.035 per cent, following buy sentiment
on some blue chip firms.
However, the market breadth closed negative, recording 13 gainers against 18 losers.
Consequently, the All-Share Index
appreciated by 99.71 basis points or 0.35 per cent to close at 27,871.90
index points as against 27.772.19 recorded the previous trading session
while market capitalisation of equities grew by N1bn from N14.516tn the
previous day to N14.517tn as market sentiment remained positive.
Meanwhile, a turnover of 81.9 million shares exchanged in 2,414 deals, was recorded in the day’s trading.
The premium sub-sector remained the most
active (measured by turnover volume); with 31.8 million shares
exchanged by investors in 918 deals.
Volume in the subsector was largely driven by activities in the shares of UBA Plc and Zenith Bank Plc.
Also, the banking subsector received a
boost by the activities in the shares of GTBank Plc and Fidelity Bank
Plc followed with a turnover of 21.7 million shares in 415 deals.
Further analysis of the day’s trading
showed that in percentage terms’ African Prudential Plc topped the
day’s gainers’ table with 2.17 per cent to close at N4.70 per share
while UACN Plc followed with 2.15 per cent to close at N9.50 per share.
Access Bank Plc added 2.08 per cent to close at N9.80 per share.
On the flip side, Vitafoam Nigeria Plc,
led the losers’ with a drop of 9.94 per cent to close at N4.53 per share
while Skyway Aviation Holding Company Plc shed 9.50 per cent to close
at N3.05 per share. Royal Exchange Plc trailed with 8.00 per cent to
close at 23 kobo per share.
Source: Punchng, February 13, 2020