Investors Gain N390bn from Stock Trading Thursday

By Dipo Olowookere

The portfolios of investors at the nation’s stock market expanded by N390 billion on Thursday after the bourse appreciated by 2.10 per cent.

Bargain hunting across the sector contributed to the growth achieved yesterday, lifting the All-Share Index (ASI) above the 36,000 threshold after it moved up by 746.47 points to 36,239.62 points from the previous day’s 35,493.15 points.

In the same vein, the performance of 30 equities, which appreciated in value, expanded the market capitalisation of the exchange by N390 billion to N18.941 trillion from N18.551 trillion.

On Thursday, the insurance sector was the best-performing, rising by 2.36 per cent, while the industrial goods index appreciated by 1.28 per cent. Also, the banking space rose by 1.11 per cent, the energy sector grew by 0.62 per cent, while the consumer goods counter gained 0.23 per cent.

Airtel Africa was the highest price gainer yesterday as it added N70.40 to its share value to finish at N774.40 per unit and was trailed by Dangote Cement, which gained N5 to trade at N200 per unit.

Okomu Oil appreciated by N3 to sell at N91 per unit, Unilever Nigeria gained N1.25 to close at N14.35 per share, while Ardova rose by N1.20 to finish at N13.25 per share.

On the losers’ chart, Flour Mills claimed the number spot after its share price reduced by 50 kobo to close at N26 per unit, while GTBank followed with a price depreciation of 20 kobo to quote at N33.75 per unit.

FCMB lost 14 kobo to sell at N2.86 per unit, UAC Nigeria depreciated by 10 kobo to N7.40 per unit, while Lafarge Africa dropped 10 kobo to trade at N21.90 per share.

Yesterday, a total of 343.6 million shares worth N4.4 billion exchanged hands in 3,895 deals in contrast to the 650.5 million stocks worth N2.3 billion transacted in 3,952 deals the previous session.

When market activities were ended at the session, FBN Holdings was the most traded stock with the sale of 99.4 million units valued at N700.5 million.

SAHCO traded 24.0 million shares for N64.0 million, UBA transacted 22.3 million equities worth N187.4 million, Access Bank exchanged 20.9 million shares for N174.2 million, while Zenith Bank traded 15.8 million stocks valued at N388.7 million.stock