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HomeBusinessNigeria's stock market closes Jan on positive note with cap at N28.99...

Nigeria’s stock market closes Jan on positive note with cap at N28.99 trln

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By Ifeyinwa Ezeokoli 

Closing the first month of the year, the Nigerian stock market on Tuesday closed higher as the capitalisation gained N44 billion.

Consequently, the All-Share Index (ASI) rose by 80.84 points, representing a gain of 0.15 per cent to close at 53,238.67.

Accordingly, investors gained N44 billion in value as market capitalisation went up to close at N28.998 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Geregu Power, Chemical & Allied Products, Nigerian Exchange Group, Northern Nigeria Flour Mills and Ecobank Transnational Incorporated.

Market breadth closed positive with 29 gainers in contrast with 18 losers.

Veritas Kapital Assurance, LivingTrust Mortgage Bank and Geregu Power led the gainers’ chart in percentage terms with10 percent each to close at 22k, N1.98 and N193.60 per share, respectively.

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John Holt went up by 9.92 percent to close at N1.33, while SCOA Nigeria appreciated by 9.78 per cent to close at N1.01 per share.

On the other hand, Chams and NCR Nigeria led the losers’ chart in percentage terms by 10 per cent each to close at 27k and N3.24.

Unity Bank came second with a decline of 9.09 percent to close at 50k per share.

Royal Exchange  lost 8.97 percent to close at 71k, while Japaul Gold & Ventures shed 8.33 per cent to close at 33 kobo, per share.

The total volume traded grew by 24.25 percent with an exchange of 250.19 million shares worth N5.89 billion traded in 4,328 deals.

Transactions in the shares of Universal Insurance topped the activity chart with 48.55 million shares valued at N9.71 million.

Guaranty Trust Holding Company followed with 14.16 million shares worth N353.77 million, while Zenith Bank traded 12.52 million shares valued at N315.02 million.

Access Holdings traded 11.57 million shares valued at N104.88 million, while Unity Bank transacted 10.88 million shares worth N5.48 million.

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