Equity Market: Capitalisation Gains N193bn

Posted by African Examiner Business News, Latest Headlines Sunday, January 8th, 2023

(AFRICAN EXAMINER) – The equity market on Friday maintained a bullish trend, gaining N193 billion or 0.7 per cent to close at N27.899 trillion as against N27.706 trillion on Thursday.

Also, the All-Share Index was up by 353.82 points or 0.7 per cent to close at 51,222.34 compared to 50, 868.52 on Thursday.

The market’s positive performance was largely driven by some stocks, which included Access Holdings, FBN Holdings, United Bank for Africa (UBA), Zenith Bank BUA Cement and Transcorp Nigeria.

Consequently, the year-to-date (YTD) return rose to 0.06 per cent.

“We expect another mixed trading session next week, as investors take profit on recent gainers,” analysts at Vetiva Securities Ltd., said.

Market breadth closed negative as 16 stocks advanced, while 18 declined.

NPF Microfinance led the gainers’ chart in percentage terms by 9.55 per cent to close at N1.72, per share.

Neimeth International Phama followed with 8.49 per cent to close at N1.55, while Eterna rose 5.77 per cent to close at N7.20 per share.

NGX Group appreciated by 5.39 per cent to close at N25.40, while RT Wapic Assurance garnered 4.88 per cent to close at 43k per share.

Conversely, PZ dominated the losers’ chart in percentage terms with 7.07 per cent to close at 92k per share.

Chi Plc followed with a fall of 7.69 per cent to close at 60k, while FTN Cocoa depreciated with 6.67 per cent to close at 28k per share.

Champion Breweries declined by 5.31 per cent to close at N4.64, while Accademy Press lost by 5.30 per cent to close at N1.25 per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions down by 41 per cent

A total of 195.74 million shares valued at N7.45 billion were exchanged in 3,650 deals.(NAN)