Economy
University Press, Others Lift Stock Market by 0.02%
By Dipo Olowookere
The stock market in Nigeria rebounded by 0.02 per cent to stretch the year-to-date (YTD) return to 63.41 per cent at the close of trading.
The rise came amid a 1.15 per cent loss recorded by the insurance sector during the trading session. The consumer goods index gained 0.18 per cent, the banking space appreciated by 0.03 per cent, and the energy segment grew by 0.02 per cent, while the industrial goods sector closed flat.
Consequently, the All-Share Index (ASI) increased by 44.14 points to 254,289.35 points from 254,245.21 points, and the market capitalisation expanded by N29 billion to N165.108 trillion from N165.079 trillion.
The market breadth index was negative yesterday after the bourse finished with 20 price gainers and 32 price losers, implying weak investor sentiment.
University Press chalked up 9.52 per cent to quote at N4.60, Omatek rose by 8.59 per cent to N1.39, International Breweries climbed by 6.47 per cent to N9.05, Guinea Insurance appreciated by 5.26 per cent to 80 Kobo, and Royal Exchange also soared by 5.26 per cent to N1.00.
On the flip side, Fortis Global Insurance lost 10.00 per cent to settle at N1.53, Vitafoam Nigeria declined by 9.99 per cent to N141.50, UPDC REIT slumped by 9.95 per cent to N19.00, Abbey Bank crashed by 8.73 per cent to N5.75, and Caverton dipped by 7.58 per cent to N3.05.
The activity chart showed that investors traded 525.4 million equities worth N22.6 billion in 39,078 deals during the session versus the 517.3 million equities valued at N47.5 billion exchanged in 54,015 deals a day earlier, indicating a shrink in the trading value and number of deals by 52.42 per cent and 27.65 per cent, and a shrink in the trading volume by 1.57 per cent.
Zichis was the most traded stock, with a turnover of 127.5 million units valued at N2.2 billion. Access Holdings transacted 42.6 million units for N1.1 billion, Chams traded 25.4 million units worth N80.2 million, VFD Group exchanged 23.2 million units valued at N289.9 million, and International Energy Insurance sold 19.5 million units worth N33.6 million.
