Equities Investors’ Portfolio Value Rises as UBA Lists Shares
The Nigerian Exchange (NGX) equities portfolio value rose on Friday as UBA listed additional shares from its recent capital raise offers.
The stock market ended the week on Friday with mixed performances. Specifically, the market capitalisation rose by 0.19 per cent, with a gain of N130 billion to close at N68.751 trillion from N68.621 trillion recorded on Thursday.
This uptrend in the capitalisation was due to the United Bank for Africa’s additional shares listing on NGX. However, the All-Share Index dropped by 0.14 per cent or 154.40 points to close at 109,028.62 against 109,183.02 posted on Thursday.
This signifies the third consecutive loss this week. Meanwhile, the market breadth closed positive with 30 gainers and 22 losers. On the gainers’ chart, Red Star Express soared by 10 per cent, closing at N6.71 while University Press increased by 9.82 per cent, settling at N4.36 per share.
ABC Transport climbed by 9.69 per cent, finishing at N2.49 and McNicholas rose by 9.05 per cent, closing at N2.29 per share. Also, Lasaco Assurance gained by 8.47 per cent, ending the session at N2.69 per share.
On the flip side, Northern Nigeria Flour Mills dropped by 9.97 per cent, closing at N118.70 while Transcorp Hotel fell by 9.95 per cent, settling at N138.50 per share.
Learn Africa declined by 9.89 per cent, finishing at N4.01 and Legend Internet shed by 9.52 per cent, ending the session at N7.60 per share.
Sovereign Trust Insurance lost by 8.57 per cent, closing at 96k per share. A total of 637.54 million shares worth N18.122 billion were traded across 15,927 transactions.
This is compared to 1.65 billion shares worth N19.098 billion that were exchanged in 26,176 transactions earlier. Transactions in the shares of Tantalizer topped the activity chart with 145.08 million shares worth N384.45 million
Fidelity Bank followed with 85.57 million shares valued at N1.56 billion, while Nigerian Breweries sold 47.53 million shares worth N2.57 billion. Guaranty Trust Holding Company transacted 29.38 million valued at N2.05 billion, and United Bank for Africa traded 45.14 million shares worth N1.54 billion.
Sectoral performance was mixed today, with three out of six sectors closing positive. The banking index (+1.48%) recorded the strongest upbeat, following buy interests in FIDELITYBK (+7.49%), UBA (+3.61%), and GTCO (+1.45%).
The Industrial Goods (+0.64%) and Commodity (+0.58%) indexes also closed in the green following gains in WAPCO (+4.30%) and PRESCO (+7.95%), respectively.
On the other hand, the consumer goods (-0.92%), insurance (-0.66%), and oil & gas (-0.29%) indices closed in the red following weak sentiments in NB (-5.10%), SOVRENINS (-8.57%), and OANDO (-3.00%). #Equities Investors’ Portfolio Value Rises as UBA Lists Shares LCCI Urges CBN to Indicate Cautious Future Rate Cuts
