Equities market gains 0.19% amid MPC retention of economic rates


After the closure of trading activities of the equities market on Tuesday, indices of the Nigeria Stocks Exchange (NSE) recorded a growth of 0.19 per cent just as the Monetary Policy Committee (MPC) retained key economic rates.

The All Share Index (ASI) increased by 40.18 points or 0.19 per cent to close at 21,741.16.

Also, the market capitalisation improved by N21 billion or 0.19 per cent to close at N11.329 trillion compared with N11.308 achieved on Monday.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Stanbic IBTC, Chemical and Allied Products, Custodian Investment, Zenith Bank and Skyway Aviation Handling Company.

Market breadth closed positive with 19 gainers and 10 losers.

NPF Micro Finance Bank led the gainers’ table in percentage terms, growing by 9.52 per cent to close at N1.15 per share.

Stanbic IBTC Holdings followed with a gain 9.43 per cent to close at N26.10, while Transcorp appreciated by 8.93 per cent to close at 61k per share.

Jaiz Bank grew by 8.89 per cent to close at 49k, while Skyway Aviation Handling Company appreciated by 8.66 per cent to close at N2.51 per share.

Conversely, Caverton led the losers’ chart in percentage terms by 10 per cent, to close at N2.25 per share.

Conoil followed with a decline of 9.93 per cent to close at N13.15, while NASCON went down by 9.57 per cent to close at N8.50 per share.

Ecobank Transnational Incorporated shed 8.99 per cent to close at N4.05, while Cadbury depreciated by 8.85 per cent to close at N5.15 per share.

However, the total volume traded decreased by 28.9 per cent to 330.10 million shares, worth N3.57 billion, and traded in 4,561 deals.

Guaranty Trust Bank emerged the most activity stock, accounting for 78.89 million shares valued at N1.32 billion.

Zenith Bank followed with 77.91 million shares worth N852.87 million, while Access Bank traded 36.03 million shares worth N198.35 million.

FBN Holdings traded 24.71 million shares valued at N96.35 million, while United Bank for Africa transacted 18.81 million shares worth N84.36 million.

In all, a total of 330.10 million shares valued at N3.57 billion were exchanged by investors in 4,561 deals.

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