Nigeria : Guinness, 20 stocks lift capitalisation by N19 billion

  • 21 April 2022 / News / 443 / Fares RAHAHLIA

Nigeria : Guinness, 20 stocks lift capitalisation by N19 billion

After the Easter break, trading on the stock exchange market resumed yesterday, with gains in Guinness and 20 stocks lifting market capitalisation further by N19 billion.

The All Share Index (ASI) rose by 35.48 points, representing an increase of 0.07 per cent to close at 47,545.86 points. Similarly, the overall market capitalisation value gained N19 billion to close at N25.632 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guinness Nigeria, Stanbic IBTC Holdings, Unilever Nigeria, Cadbury Nigeria and FBN Holdings (FBNH).

Analysts at United Capital Plc said the market would witness some slowdown after last week’s bargain hunting activities. They also expected a slowdown in dividend reinvesting activities.

Vetiva Dealings and Brokerage said: “Just as expected, the market started mixed with the sellers dominating the market. We anticipate continued demand in banking names like Fidelity and Accesscorp while investors continue to cherry-pick attractive counters across the board.

As measured by market breadth, market sentiment was negative as 31 stocks lost relative to 21 gainers. Meyer Plc recorded the highest price gain of 10 per cent to close at N1.76 kobo.

Guinness Nigeria followed with a gain 6.86 per cent to close at N74.80 kobo while NPF Microfinance Bank rose by 6.8 per cent to close at N2.20 kobo.

Cadbury Nigeria appreciated by five per cent to close at N8.40 kobo.

Unilever Nigeria gained 4.51 per cent to close at N12.75 kobo. On the other hand, Academy Press led the losers’ chart, shedding 9.72 per cent to close at N1.30 kobo.

John Holt followed with a decline of 9.3 per cent to close at 78 kobo while Japaul Gold and Ventures depreciated by 9.09 per cent to close at 30 kobo.

Neimeth International Pharmaceuticals declined by 8.23 per cent to close at N1.45 kobo. Pharma Deko Plc depreciated by 7.51 per cent to close at N1.60 kobo.

The total volume traded declined by 5.1 per cent to 365.5 million units, valued at N7.1 billion, and exchanged in 5,790 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 33.758 million shares valued at N132.1 million.

Access Holdings followed with 23.96 million shares worth N247.1 million while MTN Nigeria Communications (MTNN) traded 22.2 million shares valued at N4.7 billion.

Omatek Ventures traded 17.9 million shares valued at N3.6 million, while R.T. Briscoe Nigeria transacted 15.1 million shares worth N8.9 million.

source: egypttoday