Demand for Aradel Holdings, 41 Others Lift Stock Market by N258bn

Kayode Tokede 

The Nigerian stock market yesterday sustained positive momentum amid share price appreciations in Aradel Holdings Plc and 41 others.

The benchmark Nigerian Exchange Limited All Share Index (NGX-ASI) increased by 426.52 basis points or 0.43 per cent to close at 100,477.46 basis points. 

Consequently, market capitalisation rose by N258 billion to close at N60.908 trillion.

As measured by market breadth, market sentiment was positive, as 42 stocks gained relative to 19 losers. MRS Oil Nigeria emerged the highest price gainer of 9.99 per cent to close at N159.70, per share. Learn Africa followed with a gain of 9.97 per cent each to close at N3.53, while International Energy Insurance advanced by 9.77 per cent to close at N1.46, per share.

Wapic Insurance increased by 9.74 per cent to close at N1.69, while Livestock Feeds up by 9.73 per cent to close at N3.72, per share. On the other side, Africa Prudential led others on the losers’ chart with 10 per cent to close at N14.40, per share. John Holt followed with a decline of 9.96 per cent to close at N6.51, while Guinea Insurance shed 8.33 per cent to close at 66 kobo, per share.

Deap Capital Management & Trust lost 5.26 per cent to close at N1.08, while Consolidated Hallmark Holdings depreciated by 4.17 per cent to close at N2.30, per share.

However, the total volume traded declined by 18.5 per cent to 389.701 million units, valued at N9.199 billion, and exchanged in 9,573 deals. Transactions in the shares of Sterling Financial Holdings Company led the activity with 43.558 million shares worth N216.662 million. United Bank for Africa (UBA) followed with account of 26.219 million shares valued at N874.917 million, while Fidelity Bank traded 25.648 million shares valued at N398.348 million.

Universal Insurance traded 18.462 million shares worth N6.789 million, while AIICO Insurance traded 16.230 million shares worth N21.561 million.