Unity Bank, GTB, others lift NSE’s index by N186b

Unity Bank, GTB, others lift NSE’s index by N186b

Following price gains by most blue-chip stocks, especially Unity Bank, and Guaranty Trust Bank (GTB), transactions on the equities sector of the Nigerian Stock Exchange (NSE), reopened upbeat yesterday, as market capitalisation appreciated by N186 billion.
   
At the close of trading, Monday, the All-Share Index (ASI) increased by 355.88 absolute points or 1.46 per cent to close at 24,783.61 points. Also, investors gained N186 billion as market capitalisation advanced to N12.929 trillion.
   
The upturn was impacted by gains recorded in large and medium capital stocks, including Guaranty Trust Bank, Dangote Cement, Lafarge Africa, Zenith Bank and United Bank for Africa (UBA).
 
Analysts at Imperial Asset Managers Limited, said: “We expect the current volatility (up and down movement) to continue, however, buying interests are expected to continue in the tier-one banks and resurface in some blue-chip companies that usually pay interim dividends for half-year.

“We therefore maintain the view that investors with long-term investment goals should continue to build their portfolios given the current attractive valuation of most fundamentally viable stocks.

However, the market breadth closed negative with 15 gainers against 19 losers. Unity Bank recorded the highest price gain of 9.62 per cent to close at 57 kobo per share. Lafarge Africa followed with 9.59 per cent to close at N12, and Guaranty Trust Bank rose 7.62 per cent to close N23.30, per share

Neimeth International Pharmaceuticals added 7.14 per cent to close at N1.50, while Dangote Cement edged up 5.66 per cent to close at N141.80, per share.

On the other hand, AXA Mansard Insurance, and UAC Property Development Company led the losers’ chart by 10 per cent, each, to close at N1.44 and 81 kobo, respectively, while SEPLAT Petroleum Development Company (SEPLAT) followed with 9.99 per cent fall to close at N312.70, per share.

Berger Paints Nigeria lost 9.84 per cent to close at N5.50, and CAP Plc shed 9.76 per cent to close at N17.10, per share.
The total volume of trade slipped by 2.41 per cent to 169.998 million units valued at N2.385 billion, traded in 4,336 deals.

Transactions in the shares of Flour Mills of Nigeria topped the activity chart with 30.471 million shares valued at N518.057 million. Lafarge Africa followed with 28.067 million shares worth N335.839 million, while FBN Holdings traded 9.946 million shares at N49.773 million.

Guaranty Trust Bank traded 8.976 million shares valued at N201.603 million, and UBA transacted 8.269 million shares worth N50.409 million.

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