Stock market Index has reported that it has successfully sustained an uptrend in it’s marginal gain. This report was made from the previous day’s business transaction as the stock exchange market announced an uptrend on its marginal gain which was at 0.02 per cent.
In conclusion, All Share Index (ASI) recorded a gained at 9.92 points, which also represents that there has been a growth rate at 0.02 per cent which closed for the day at 42,158.32 points.
Meanwhile, the stock market index capitalization of the market has trend helped in gaining N4 billion to close the market activities at N15.129 trillion for the day. According to the records, the upturn was recorded as it has impacted all the gains as was recorded in both the medium capitalized stocks as well as large capitalized stocks, those firms comprising those that made gain are;
- Guaranty Trust Bank Plc,
- Zenith Bank Plc,
- Nascon and Allied Industries,
- Flourmill Nigeria and UBA
An analysis done by analysts at Afrinvest Limited disclosed that
“Irrespective of the marginal gain which was recorded yesterday, the obvious growth shows that the equity market is stabilising in a gradual process. Therefore, there is an expectation that the performance in the coming days in the trading sessions of the market will remain positive.”
Meanwhile, the market breadth has unfortunately remained negative, reported data shows that there was 21 gainers as against 30 losers. While Japaul Oil Ltd had a record of a high market price with a gain of 5.71 per cent, that closed at 37 kobo per stock market index share.
On another front the Champion Breweries made a gain at 4.81 per cent and closed at N2.83 per share, meanwhile, Continental Reinsurance had an appreciated percentage of 4.64 per cent which closed at N1.58 per market share. Prestige Assurance also appreciated by 4.44 per cent and the closed at 70 kobo per market share, Red Star Express on the other hand went up by 4.35 per cent recorded while it closed at N6 per share.
Meanwhile, oil giant such as Conoil was the front for firms on the losers’ chart, going down by 9.67 per cent while it closed business for the day at N35.50 per market share.
Other on the losers chart that followed ConOil where Unity Bank that depreciated by 9.20 per cent while it closed business for the day at N1.48, and Sterling Bank also shed 9.05 per cent and closed at N1.81 per market share.
Diamond Bank Plc depreciated by 8.52 per cent and close business at N2.47 per share, FBN Holdings as one of the losers lost 7.26 per cent and closed business at N10.85 per stock market index share.
Meanwhile, data recorded has also shown that the total volume which was traded on the market day had improved by 11.8 per cent in general and business had closed at 570.26 million shares, which when calculated would be worth N5.33 billion. The total trades recorded totaled 5,794 deals. While the transactions which involved shares of Custodian and Allied Insurance where the table toppers as their activities on the chart ended with 94.45 million shares which can valued at N377.82 million.
In this front FBN Holdings followed closely and traded in shares 61.64 million shares with the worth of N683.26 million, on the other hand Fidelity Bank Plc also traded 55.93 million of their shares which has been valued at N169.24 million for all the shares.
Rounding up the business for the day, while FCMB Groups did trade a 48.25 million shares that was valued at approximately N110.56 million, Transcorp LTD transacted at least on a 31.51 million shares which is worth a N63.9 million.
In conclusion, there were gainer as well as losers in the day business transactions as was recorded the equity market.