FBN Holdings, 33 Others Lift Market Cap by N306bn

Kayode Tokede

The Nigerian stock market yesterday extended its positive performance as gains in FBN Holdings Plc  and 33 others pushed the overall market capitalization up by N306 billion.

The NGXASI advanced by 0.78 per cent today to close at 71,808.64basis points from 71,250.17 basis points, as buying interest in FBN Holdings gained 9.91per cent, Access Holdings gained 9.04per cent and Stanbic IBTC Holdings rose by 5.60 per cent drove the market into the green zone.

Also, market capitalisation rose by N306 billion to close at N39.295 trillion from N38.989trillion it closed the previous day.

Performance across the sectors was mixed, as the NGX Insurance dropped by two per cent and NGX Consumer Goods depreciated by 0.1per cent, while the NGX Industrial Goods and NGX Oil & Gas indices closed flat.

The NGX Banking added five per cent, the sole gainer for yesterday.

As measured by market breadth, market sentiment was positive, as 34 stocks gained relative to 22 losers. Thomas Wyatt Nigeria emerged the highest price gainer of 9.93 per cent to close at N3.32 per share.  FBNH followed with a gain of 9.91 per cent to close at N29.40, while Multiverse Mining and Exploration advanced by 9.90 per cent to close at N7.77, per share.

ETI rose by 9.88 per cent to close at N18.90, while Infinity Trust Mortgage Bank appreciated by 9.70 per cent to close at N1.47, per share. On the other side, AXA Mansard Insurance led others on the losers’ chart with 9.69 per cent to close at N4.10, per share. Guinea Insurance followed with a decline of 9.68 per cent to close at 28 kobo, while Oando shed 9.13 per cent to close at N10.45, per share.

Omatek Ventures lost 8.14 per cent to close at 79 kobo, while Universal Insurance depreciated by 7.41 per cent to close at 25 kobo, per share.

The total volume traded advanced by 61.2 per cent to 690.01 million units, valued at N12.10 billion, and exchanged in 8,412 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) led the activity with 76.703 million shares worth N3.04 billion. United Bank for Africa (UBA) followed with account of 74.567 million shares valued at N1.658 billion, while Fidelity Bank traded 65.633 million shares valued at N596.318 million.

Access Holding traded 64.176 million shares worth N1.337 billion, while Universal Insurance traded 47.129 million shares worth N12.209 million.