Equities close flat as capitalisation retains N28.3tr mark

Trading on the equities sector of the Nigerian Exchange Limited (NGX) closed flat yesterday, as market capitalisation retains N28,300 trillion mark. At the close of transactions yesterday, the All Share Index (ASI) closed at 51,953.41 points, slightly higher than 51,952.99 points closed the previous day. Also, market capitalisation recorded N28.300 billion.

The marginal upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Berger Paints, Skyway Aviation Handling Company, International Breweries, Dangote Sugar Refinery and Multiverse Mining and Exploration.

Analysts at Vetiva Dealings and Brokerage, said: “In the absence of any price dip in any of the heavy-weights, we expect similar trading session tomorrow.” As measured by market breadth, market sentiment was positive, as 17 stocks gained relative to 11 losers.

SkyAviation led the gainers chart, adding 10 per cent to close at N5.50 per unit, ABC Transport followed with a gain of 9.68 per cent to close at 34 kobo, Berger Paint added 8.57 per cent to N7.60 kobo, International Breweries advanced by 7.41 per cent to close at N4.35 kobo, Multiverse increased by 4.17 per cent to close at N2.50 kobo.

Sterling Bank added four kobo to close at N1.56 kobo. Unity Bank appreciated by 3.92 per cent to close at 53 kobo. TransNational Corporation appreciated by 3.70 per cent to close at N1.40 kobo. Cutix garnered by 3.60 kobo to close at N2.30 kobo. AIICO advanced by 3.51 kobo to close at 59 kobo. Lasaco also increased by 2.51 per cent to close at N1.20 kobo.

On the other hand, Royal Exchange topped losers chart, shedding 10 per cent to close at 54 kobo, Champion Breweries fell by 9.84 per cent to close at N4.58 per share, CWG dipped by 7.53 per cent to close at 86 kobo. Mutual Benefits Assurance down by 5.88 per cent to close at 32 kobo. NGX Group lost 4.23 per cent to close at N24.90 kobo.

Further, Courtville depreciated by 2.17 per cent to close at 45 kobo. United Bank for Africa (UBA) dropped 1.17 per cent to close at N8.45 kobo. FBN Holdings declined by 90 kobo to close at N11. United Capital shed 86 kobo to close at N11.50 kobo. Access corp dipped by 57 per cent to close at N8.70 kobo. Oando also shed 35 per cent to close at N5.63 kobo.

Transnational Corporation of Nigeria led activity during the day with 117.528 million in N163.056 million, Fidelity Bank followed with account of 38.030 million shares worth N200.387 million, UBA traded 19.816 million shares valued at N169.193 million, Zenith Bank traded 11.384 million shares valued at N290.035 million while Royal Exchange traded 5.933 shares worth N3.263 million.