Stock Market Appreciates by N66.13bn on Investors’ Demand for Shares

Kayode Tokede

The Nigerian stock market recovered from a bearish run yesterday, as investors’ investments went up by N66.13 billion, propelled by the demand for Seplat Energy Plc and 18 others.

The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 116.13 basis points or 0.12 per cent to close at 95,895.92 basis points from 95,779.79 basis points, to bring the stock market Month-till-Date (MtD) and Year-till-Date (YtD) performance to -1.9per cent and +28.3per cent, respectively.

Also, market capitalisation rose by N66.13 billion to close at N54.448 trillion from N54.448 trillion the stock market opened for trading.

Sectoral performance was mixed, as the NGX Banking Index (+0.4per cent), NGX Oil & Gas IIndex (+0.4per cent) and NGX Insurance Index (+0.2per cent), while the NGX Consumer Goods Index (-0.1per cent). The NGX Industrial Goods index closed flat.

As measured by market breadth, market sentiment was negative, as 19 stocks gained relative to 24 losers. Learn Africa emerged the highest price gainer of 9.94 per cent to close at N3.87, per share.

Oando followed with a gain of 9.90 per cent to close at N43.30, while Cutix advanced by 9.85 per cent to close at N2.90, per share.

R.T. Briscoe Nigeria rose by 9.63 per cent to close at N2.05, while University Press increased by 8.57 per cent to close at N2.66, per share.

On the other side, Thomas Wyatt Nigeria led others on the losers’ chart with 9.71 per cent to close at N1.58, per share. Omatek Ventures followed with a decline of 6.85 per cent to close at 68 kobo, while FTN Cocoa Processors shed 6.80 per cent to close at N1.92, per share.

Neimeth International Pharmaceuticals lost 5.00 per cent to close at N1.90, while The Initiates Plc (TIP) depreciated by 4.44 per cent to close at N2.15, per share.

The total volume of trades declined by 71.41 per cent to 1.014 billion units, valued at N7.688 billion, and exchanged in 8,295 deals.

Transactions in the shares of Jaiz Bank led the activity with 651.290 million shares worth N1.497 billion. Sterling Financial Holdings Company followed with an account of 53.944 million shares valued at N218.412 million, while International Breweries traded 28.411 million shares valued at N127.991 million.

FCMB Groups traded 21.865 million shares worth N165.997 million, while Access Holdings traded 20.294 million shares worth N384.087 million.