Demand for Guinness, 28 Others Lift Market Cap by N131bn

Kayode Tokede

The Nigerian stock market yesterday saw a positive performance as share price appreciation in Guinness Nigeria Plc and 28 others lifted the overall capitalisation up by N131 billion.

The Nigerian Exchange Limited All Share Index (NGX ASI) rose by 231.71 basis points or 0.21 per cent to close at 100,299.48 basis points. Accordingly, market capitalisation gained by N131 billion to close at N56.738 trillion.

In addition, the NGX ASI Month-to-Date and Year-to-Date returns increased to +0.2per cent and +34.1per cent, respectively.

On sectors, the NGX Insurance Index (+2.7per cent), NGX Banking Index (+1.7per cent) and NGX Industrial Goods Index (+0.2per cent)  posted gains, while the NGX Consumer Goods and Oil & Gas indices closed flat.

As measured by market breadth, market sentiment was positive, as 29 stocks gained relative to 19 losers. Cornerstone Insurance recorded the highest price gain of 9.57 per cent to close at N2.29, per share. RT Briscoe Nigeria followed with a gain of 9.38 per cent to close at 70 kobo, while IMG rose by 9.24 per cent to close at N13.00, per share.

UPDC Real Estate Investment Trust went up by 9.00 per cent to close at N5.45, while Caverton Offshore Support Group appreciated by 6.92 per cent to close at N1.39, per share.

On the other hand, University Press led the losers’ chart by 10.00 per cent, to close at N2.25, per share. DAAR Communication followed with a decline of 5.88 per cent to close at 48 kobo, while Omatek Ventures declined by 5.80 per cent to close at 65 kobo, per share.

Neimeth International Pharmaceuticals depreciated by 5.63 per cent to close at N1.51 and Unity Bank declined by 5.49 per cent to close at N1.55, per share.

The total volume traded decreased by 6.41 per cent to 342.196 million units, valued at N4.753 billion, and exchanged in 7,592 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 137.641 million shares valued at N1.418 billion. Universal Insurance followed with 21.229 million shares worth N8.565 million, while AIICO Insurance traded 14.923 million shares valued at N15.553 million.

Access Holdings traded 14.881 million shares valued at N290.942 million, while Cornerstone Insurance sold 9.405 million shares worth N21.340 million.