BEVERLY HILLS, August 20, (THEWILL) – The Nigerian Stock Exchange (NSE) equities market gained for the third straight session this week, as the All-Share Index (ASI) advanced by 0.13 per cent on bargain hunting.
The ASI increased by 33.28 basis points, representing a growth of 0.13 per cent to close at 25,204.60 basis points. Therefore, the Month-to-Date gain increased to 2.1 per cent while Year-to-Date loss moderated to 6.1 per cent.
Similarly, the overall market capitalisation size gained N18 billion, representing an increase of 0.14 per cent to close at N13.149 trillion. This follows the listing of 2.03 billion additional shares of 50 kobo each at 52 kobo per share of Consolidated Hallmark Insurance Plc.
On sectors, the Consumer Goods (+0.5per cent), Banking (+0.2 per cent) and Industrial Goods (+0.03 per cent) indices recorded gains, while the Insurance (-0.2 per cent) index declined. The Oil & Gas index traded flat.
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Chemical and Allied Products (CAP), Stanbic IBTC Holdings, international Breweries, GlaxoSmithKline Consumer Nigeria and Fidson Healthcare.
Market sentiment, as measured by the market breadth, was positive, as 17 stocks gained relative to 11 losers. International Breweries recorded the highest price gain of 10 per cent, to close at N3.30, per share. Cutix followed with a gain 9.71 per cent to close at N1.92, while Neimeth International Pharmaceuticals rose by 9.55 per cent to close at N1.95, per share.
Livestock Feeds went up by 9.09 per cent to close at 60 kobo, while Fidson Healthcare appreciated by 6.74 per cent to close at N3.96, per share. On the other hand, Studio Press Nigeria led the losers’ chart by 9.60 per cent, to close at N1.79, per share. UACN Property Development Company followed with a decline of 9.47 per cent to close at 86 kobo, while Associated Bus Company lost 8.51 per cent to close at 43 kobo, per share.
Royal Exchange lost 7.14 per cent to close at 26 kobo, while Japaul Oil and Maritime Services shed 4.76 per cent to close at 20 kobo, per share.
However, the total volume traded declined marginally by 0.26 per cent to 179.549 million shares, worth N2.526 billion, and traded in 3,055 deals. Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 35.479 million shares valued at N21.470 million. Guaranty Trust Bank followed with 29.938 million shares worth N755.908 million, while Lasaco Assurance traded 11.864 million shares valued at N3.505 million.
FBN Holdings (FBNH) traded 9.975 million shares valued at 49.931 million, while Zenith Bank transacted 9.648 million shares worth N163.463 million.
