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HomeBusinessBUA Cement, Guinness, others drive Nigeria's equity market value up by N62...

BUA Cement, Guinness, others drive Nigeria’s equity market value up by N62 bln

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By Ifeyinwa Ezeokoli 

Nigeria’s equities market sustained the bullish runs from last week on Monday with investors swooped on the shares of BUA Cement, Guinness Nigeria and 17 others, pushing the value of the market by N62 billion.

The All-Share Index (ASI) rose by 115.58 points, representing a gain of 0.24 percent to close at 48,270.23 points.

Accordingly, the month-to-date and year-to-date returns increased to 1.3 percent and 13.0 percent, respectively.

Also, investors gained N62 billion in value as market capitalisation closed upbeat 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 moderated 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.

Also, market breadth closed positive as 19 stocks posted gains while 16 declined.


Guinness led the gainers’ chart in percentage terms by 10 percent to close at N69.30 per share.

Eterna followed with 8.78 percent to close at N6.44, while Royal Exchange went up by 8.33 percent to close at 78k per share.

Linkage Assurance went up by 7.50 percent to close at 43k, while Presco appreciated by 6.64 percent to close at N120.50 per share.

On the other hand, Geregu Power led the losers’ chart in percentage terms by 9.85 percent to close at N110.70 per share.

SCOA followed with a decline of 9.43 percent to close at 96k, while Thomas Wyatt Nigeria went down by 9.09 to close at 40k per share.

R.T. Briscoe Nigeria lost 7.41 percent to close at 25k, while Lasaco Assurance shed 4.49 percent to close at 85k per share.

The total volume traded increased by 303.56 percent to 645.03 million shares worth N4.19 billion traded in 3,486 deals.

Transactions in the shares of UPDC Real Estate Investment Trust topped the activity chart with 460.71 million shares valued at N1.61 billion.

FBN Holdings (FBNH) followed with 83.79 million shares worth N921.73 million, while  Zenith Bank traded 11.51 million shares valued at N258.54 million.

Transcorp traded 10.46 million shares valued at N12.29 million, while Guaranty Trust Holding Company transacted 8.25 million shares worth N176.62 million.

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