Stock Market Up N136bn on Demand for Lafarge Africa, 34 others

Kayode Tokede

Positive sentiments continued in the stock market section of the Nigerian Exchange Limited (NGX) yesterday over investors’ demand for Lafarge Africa Plc and 34 others that triggered N136 billion increase in the overall market capitalisation.

The All-Share Index rose by 225.06 basis points or 0.23 per cent, to close at 97,972.33 basis points. Similarly, the overall market capitalisation value gained N136 billion to close at N59.367 trillion.

Sectoral performance was positive as the NGX Insurance gained 1.9per cent, NGX Industrial Goods appreciated by 0.6per cent, NGX Oil & Gas increased by 0.4per cent, while NGX Banking index grew by 0.3 per cent.

The market breadth closed positive, as 35 stocks gained relative to 24 losers. Lafarge Africa and Unilever Nigeria recorded the highest price gain of 10 per cent each to close at N50.60 and N26.95 respectively, per share. SCOA Nigeria and Eunisell Interlinked followed with a gain of 9.94 per cent each to close at N1.88 and N14.49 respectively, while John Holt rose by 9.89 per cent to close at N9.33, per share.

On the other hand, PZ Cussons Nigeria led the losers’ chart by 9.82 per cent to close at N22.50, per share. The Initiates Plc (TIP) followed with a decline of 9.70 per cent to close at N2.10, while Berger Paints Nigeria declined by 7.71 per cent to close at N17.35, per share.

Honeywell Flour Mills shed 4.85 per cent to close at N4.12, while Consolidated Hallmark Holdings lost 4.50 per cent to close at N1.91, per share.

However, the total volume of trade decreased by 19.21 per cent to 333.949 million units, valued at N6.421 billion, and exchanged in 9,187 deals. Transactions in the shares of Access Holdings topped the activity chart with 37.842 million shares valued at N910.193 million. Japaul Gold & Ventures followed with 26.488 million shares worth N60.753 million, while Chams Holding Company traded 23.663 million shares valued at N47.903 million.

Consolidated Hallmark Holdings traded 23.663 million shares valued at N47.903 million, while United Bank for Africa (UBA) transacted 16.133 million shares worth N539.971 million.