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Equities record N24bn gain as banking, telecoms stocks inflate turnover

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The Nigerian equities market retained positive outlook to end activities on Wednesday as investors took strong position in STANBIC stocks which appreciated by 2.7 per cent while banking and telecoms stocks drove the turnover for the session.

The day’s trading event on the floor of the Nigerian Stock Exchange (NSE) resulted into N24 billion gains for investors and 0.18 per cent growth in the market’s benchmark index.

The NSE All-Share Index gained 46.05 points to close at 25,460.00 basis points while the valuation of the equities marked jacked up to N13.282 trillion from N13.258 trillion it closed activities the previous session.

Note that the positive sentiment seen on the shares of STANBIC came on the back of the company’s positive H1-20 performance and interim dividend announcement at the early hours of the midweek’s trading.

Even as 17 tickers traded the session with no impact of market pressure as they closed on flat prices, 18 gainers emerged against 11 declining stocks, resulting in a positive market breadth.

According to NSE’s statistics, Nigerian Breweries and STANBIC topped gaining lists with N1 to close at N40 and N37.5 per share while Flourmill and Guinness each advanced by N0.20 in prices to close at N19 and N14 respectively. BUACEMENT trailed with N0.1 to close at N40.30 per share.

On the flip side, Glaxosmith topped the losers’ chart with N0.25 loss to close at N4.85 per share. VITAFOAM shed N0.21 to close at N5.50 while WAPCO, Mansard and UBA followed with N0.20, N0.17 and N0.10 losses to close at N12, N1.67 and N6.45 per share respectively.

Notwithstanding the gain of the day, turnover closed on the low side as traded volume and value declined by 83.04 and 87.17 per cent relative to the previous session.

Meanwhile, the recorded turnover of N1.122 billion during the session realised as 181.321 million shares exchanged hands in 3,408 transactions, was pumped up significantly by stocks of ZENITHBANK, MTN Nigeria and GUARANTY.

TRANSCORP was the most traded stock by volume at 26.79 million units valued at N15.382 million while ZENITHBANK was the most traded stock by value at N220.67 million realised in traded 13.048 million share units.

The session closed with a total of 181.321 million shares worth N1.122 billion in 3,408 as against 1.07 billion shares valued at N2.10 that exchanged hands in 3,221 trades during the previous session.

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