Finance

Gains in Presco, Guinness Nigeria, BUA Cement, others lift capitalisation by N62 billion

Gains in shares of Presco and 18 other stocks aided the Nigerian Exchange Limited (NGX) to extend previous gains to close in an upbeat yesterday, causing the market capitalisation to appreciate by N62 billion.

Specifically, at the close of trading yesterday, the All Share Index (ASI) rose by 115.58 absolute points, representing a gain of 0.24 per cent to close at 48,270.23 points.
Accordingly, investors gained N62 billion in value as market capitalisation went up to N26.291 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: Presco, Guinness Nigeria, BUA Cement, Nigerian Breweries and Eterna.
This week, analysts at United Capital Plc, anticipated potential market gains to be moderate as investors book profits, switch asset classes, and turn their attention towards the fixed-income markets following the MPC’s recent 100bps MPR hike decision.
Vetiva Dealing and Brokerage said: “Another bumpy start in the banking sector, as four out of the five Tier-I banks closed in the red, and we expect continued mixed trading in the market this week. “

Read:  6 Nigerians, 19 Other Africans Named NEF Fellows For 2019-2021 Class.

Also, market breadth closed positive as 19 stocks posted gains while 16 declined. Guinness Nigeria recorded the highest price gain of 10 per cent to close at N69.30 per share.
Eterna followed with a gain of 8.78 per cent to close at N6.44, while Royal Exchange went up by 8.33 per cent to close at 78 kobo, per share. Linkage Assurance went up by 7.50 per cent to close at 43 kobo, while Presco appreciated by 6.64 per cent to close at N120.50, per share. Mansard gained 5.26 per cent to close at N2. Caverton appreciated by 4.82 per cent to close at 87 kobo. BUA cement garnered 3.90 per cent to close at N80. African Prudential added 3.77 per cent to close at N5.50 kobo. SunuAssurance appreciated by 3.70 per cent to close at 28 kobo. Ikeja Hotel garnered 3.23 per cent to close at 96 kobo.

Read:  Anthony Joshua beats Andy Ruiz to reclaim world titles

On the other hand, Geregu Power led the losers’ chart by 9.85 per cent to close at N110.70 per share. SCOA Nigeria followed with a decline of 9.43 per cent to close at 96 kobo.
Thomas Wyatt Nigeria went down by 9.09 to close at 40 kobo, per share. R.T. Briscoe Nigeria lost 7.41 per cent to close at 25 kobo, while Lasaco Assurance shed 4.49 per cent to close at 85 kobo, per share.

The total volume traded increased by 303.56 per cent to 645.026 million shares, worth N4.190 billion, and traded in 3,486 deals.

Read:  Nigeria’s inflation jumps to 21.09% in October

Transactions in the shares of UPDC Real Estate Investment Trust topped the activity chart with 460.705 million shares valued at N1.612 billion.

FBN Holdings (FBNH) followed with 83.792 million shares worth N921.725 million, while Zenith Bank traded 11.505 million shares valued at N258.542 million.

Transnational Corporation of Nigeria (Transcorp) traded 10.461 million shares valued at N12.295 million, while Guaranty Trust Holding Company (GTCO) transacted 8.254 million shares worth N176.622 million.

Related posts

Forex, others affecting our operations – PZ Cussons

NigGal

Naira exchanges for 503/$ at parallel market

NigGal

Shareholders okay Dangote Cement’s N272.6 billion dividend

NigGal

Late Filing: NGX slams N36m fine on ETI, Wema Bank, 16 others

NigGal

Shareholders approve Guinness Nigeria N1.008bn dividend

NigGal

At 13.17%, Prime lending Rate Hits 23-month High

NigGal

Leave a Comment