Investors’ interest in NB, Tier-1 Banks Liff Stock Market by N62bn

Kayode Tokede

The stock market of the Nigerian Exchange Limited (NGX), yesterday appreciated by N62 billion over investors renewed interest in Nigerian Breweries Plc  ( 3.9per cent), Guaranty Trust Holdings Limited (1.9  per cent) and Zenith Bank Plc (1.5 per cent).

This lifted the All Share Index (ASI) by 114.21 points or 0.22 per cent to close at 52,579.52 basis points. Consequently, market capitalisation rose by N62 billion to close at N28.630 trillion.

As measured by market breadth, market sentiment was positive as 29 stocks gained relative to 27 losers. Multiverse Mining and Exploration recorded the highest price gain of 10 per cent to close at N3.41, per share.

 Red Star Express followed with a gain of 9.96 per cent to close at N2.65, while CWG rose by 9.85 per cent to close at N1.45, per share.

NcNichols went up by 9.23 per cent to close at 71 kobo, while International Breweries appreciated by 6.82 per cent to close at N4.70, per share.

On the other hand, C & I Leasing led the losers’ chart by 9.80 per cent, to close at N3.59, per share. Transnational Corporation (Transcorp) followed with a decline of 7.73 per cent to close at N1.79, while FTN Cocoa Processors declined by 6.90 per cent to close at 27 kobo, per share.

Chams Holdings depreciated by 6.45 per cent to close at 29 kobo and Custodian Investment declined by 4.80 per cent to close at N5.95, per share.

The total volume traded advanced by 6.0 per cent to 511.38 million units, valued at N7.14 billion, and exchanged in 5,883 deals.

Transactions in the shares of Access Holdings topped the activity chart with 167.615 million shares valued at N1.916 billion. FBN Holdings (FBNH) followed with 91.294 million shares worth N1.092 billion, while United Bank for Africa (UBA) traded 78.061 million shares valued at N623.441 million.

Transnational corporations (Transcorp) traded 29.557 million shares valued at N53.202 million, while AXA Mansard Insurance sold 18.151 million shares worth N45.687 million.

This week, United Capital Plc, said “bullish sentiments to persist in the market as investors continue to take advantage of the impressive Q1, 2023 earnings season. However, we note that there may be pockets of profit-taking activities among investors.”