Finance

Stock Market Trades N5.57bn shares

Stock Market Trades N5.57bn shares

Trading activities on the Nigerian stock market yesterday closed flat as the market traded N5.570 billion shares.

In summary, the All-Share Index (ASI) increased slightly by 0.20 absolute points, representing an increase of 0.0005 per cent to close at 41,814.94 points while the overall market capitalisation value closed at N21.821 trillion.

The market performance was driven by price appreciation in large and medium capitalised stocks which are; International Breweries, UAC of Nigeria (UACN), C & I Leasing, Lafarge Africa and Ecobank Transnational Incorporated (ETI).

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Analysts at Afrinvest Limited said: “We expect the bullish run to be sustained following nine months of 2021 earnings releases.”The market breadth closed positive recording 22 gainers against 21 losers. Universal Insurance and University Press recorded the highest price gain of 10 per cent each to close at 22 kobo and N1.65, respectively, while Courteville Business Solutions followed with a gain 9.76 per cent to close at 45 kobo, per share.

Abbey Mortgage Bank rose by 9.30 per cent to close at 94 kobo, while International Breweries gained 9.28 per cent to close at N5.30, per share. On the other hand, Associated Bus Company led the losers’ chart by 8.82 per cent to close at 31 kobo, per share. FTN Cocoa Processors followed with a decline of 6.25 per cent to close at 45 kobo, while Cutix lost 5.47 per cent to close at N6.05, per share.

Meanwhile, the total volume of trades depreciated by 47.63 per cent to 353.233 million units, valued at N5.570 billion, and exchanged in 5,322 deals.

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the shares of FBN Holdings (FBNH) topped the activity chart with 73.062 million shares valued at N906.755 million. Guranty Trust Holding Company followed with 25.039 million shares worth N715.263 million, while Universal Insurance traded 22.771 million shares valued at N4.919 million.

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United Bank for Africa (UBA) traded 20.331 million shares valued at N171.208 million, while Transnational Corporation of Nigeria (Transcorp) transacted 18.437 million shares worth N18.864 million.

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