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Home » Equities rebound as gains in Guinness, 19 stocks lift indices by N104b
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Equities rebound as gains in Guinness, 19 stocks lift indices by N104b

AkanewsBy AkanewsSeptember 1, 2022No Comments3 Mins Read
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After two days of losses, the Nigerian Exchange Limited (NGX) staged a rebound at the close of transactions for the month of August yesterday, as gains in Guinness and 19 others lifted market capitalisation by N104 billion.

In summary, the All-Share Index (ASI) grew by 193.82 absolute points, representing a gain of 0.39 per cent, to close at 49,836.51 points. Similarly, the overall market capitalisation value gained N104 billion to close at N26.880 trillion.

The market’s positive performance was driven by price appreciation in large and medium capitalised stocks which are; Guinness Nigeria, BUA Foods, Nigerian Exchange Group (NGXGroup), Lafarge Africa and Ardova Plc.

On market outlook, GTI Securities Limited said: “Activities on the equities market reversed prior day’s bearish sentiment, we expect mixed sentiments to continue throughout the week.”

As measured by market breadth, market sentiment was positive as 20 stocks gained relative to 12 losers. Guinness Nigeria recorded the highest price gain of 9.88 per cent to close at N87.90, per share. Caverton Offshore Support Group followed with a gain of 9.62 per cent to close at N1.14 and Transnational Corporation of Nigeria (Transcorp) went up 8.65 per cent to close at N1.13, per share.

NGXGroup was up by 6.43 per cent to close at N22.35, while Lasaco Assurance appreciated by 5.10 per cent to close at N1.03 kobo. Lasaco added 5.10 per cent to close at N1.03 kobo.

Fidelity Bank garnered 4.93 per cent to close at N3.19 kobo. Lafarge WAPCO appreciated by 4.60 per cent to close at N25. BUA Foods gained 4.48 per cent to close at N58.30 kobo. Ardova appreciated by 4.13 per cent to close at N12.60 kobo. Chams also garnered 3.85 per cent to close at 27 kobo.

On the other hand, Consolidated Hallmark Insurance led the losers’ chart by 7.69 per cent to close at 60 kobo, per share. Unilever Nigeria followed with a decline of 7.22 per cent to close at N12.20, while Sovereign Trust Insurance lost 7.14 per cent to close at 26 kobo, per share.

UPDC Reits lost 7.04 per cent to close at N3.30 kobo. Jaiz Bank shed 4.44 per cent to close at N86 kobo. UPDC depreciated by 1.96 per cent to close at N1. Honeywell Flour Mills dropped 1.85 per cent to close at N2.65 kobo.

Cornerstone Insurance shed 1.43 per cent to close at 69 kobo. Nigerian Breweries declined by 66 kobo to close at N45.50 kobo. First City Monument Bank also dropped 65 per cent to close at N3.05 kobo.

UPDC Real Estate Investment Trust (UPDCREIT) declined 7.04 per cent to close at N3.30, while Jaiz Bank shed 4.44 per cent to close at 86 kobo, per share.

However, the total volume traded decreased by 191.7 per cent to 367.341 million units, valued at N3.237 billion, and exchanged in 3,725 deals. Transactions in the shares of Sterling Bank topped the activity chart with 162.447 million shares valued at N238.937 million.

Access Holdings followed with 27.701 million shares worth N228.033 million, while United Bank for Africa (UBA) traded 26.578 million shares valued at N191.273 million. FBN Holdings traded 22.426 million shares valued at N244.669 million, while Fidelity Bank transacted 20.166 million shares worth N63.770 million.





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