Yesterday, the local stock market demonstrated resiliency as its total capitalization increased by N178 billion.
The closing value of the All Share Index (ASI) was 97,025.17 points, up 310.13 points or 0.32 percent. Additionally, market capitalization closed at N55.754 trillion, up N178 billion from the previous close.
Gains in medium- and large-cap equities, such as those in Nestle Nigeria, Flour Mills of Nigeria, Oando, FBN Holdings (FBNH), and Berger Paints Nigeria, had an impact on the upturn.
Additionally, the market’s breadth closed higher with 27 equities rising and 22 falling. The two companies with the biggest price gains were FBNH and Caverton Offshore Support Group, which closed at N26.40 and N2.31, respectively, after rising by 10% and 9.99 percent, respectively, to N49.55 per share. Flour Mills of Nigeria came in third. Eyes Of Lagos reports,
Nestle Nigeria saw an increase of 9.88 percent to close at N890.00 per share, while R.T. Briscoe Nigeria saw an increase of 9.93 percent to close at N3.32.
Conversely, DAAR Communication closed at 72 kobo per share, leading the losers’ list by 8.86 percent.
Universal Insurance dropped 7.69% to settle at 36 kobo per share, while Eterna trailed with an 8.14% decrease to close at N32.15.
International Breweries saw a 5.32 percent fall to conclude at N4.45, per share, while Sovereign Trust Insurance saw a 5.97 percent depreciation to close at 63 kobo.
With 9,615 trades and 390.547 million units moved, worth N7.974 billion, the overall traded volume fell by 34.91 percent. With 80.049 million shares valued at N1.475 billion, transactions involving Access Holdings shares topped the activity chart.
United Bank for Africa (UBA) traded 31.108 million shares valued at N745.582 million, while FBNH followed with 51.982 million shares worth N1.341 billion.
Zenith Bank sold 19.275 million shares for N712.450 million, while Caverton Offshore Support Group traded 23.728 million shares valued at N54.398 million.
