Investors repositioning for year-end Yuletide rally persisted at the close of transactions yesterday, as investors’ wealth appreciated by N415 billion in three trading days.
Precisely, the market capitalisation of listed equities which closed at N39,148 trillion last week Friday, appreciated by N415 billion or 1.0 per cent to N39,563 trillion yesterday. Also, the All-share index, which measures the performance of quoted companies rose by 758.05 points from 71,54.74 to 72,299.79.
Yesterday’s upturn was buoyed by price appreciation in Transcorp Hotel, Accesscorp, FBN Holdings, Zenith Bank, United Bank for Africa, Oando and GTCO.
On what will shape the market in the next trading session, analysts at Vetiva Dealings and Brokerage said: “ The NGX banking index has returned 5.77% WTD. While we still anticipate the sector to dominate the activity chart as some investors take position ahead of full-year results, we expect gains to moderate, with some profit-taking actions.”
On the price movement chart, 34 companies appreciated while 16 others constituted the losers chart.
SCOA Plc led gainers’ chart, adding 9.88 per cent to close at N1.78 kobo.
Infinity Savings followed with a gain of 9.86 per cent to close at N2.34 kobo. AccessCorp added 8.09 per cent to close at N22.05 kobo, Cornerstone Insurance gained 7.41 per cent to close at N1.45 kobo. Transcorp Hotel also rose by 6.83 per cent to close at N46.90 kobo.
However, UPL topped the losers’ chart, shedding 9.82 per cent to close at N2.48 kobo while SUNU Assurance trailed with a loss of 9.38 per cent to close at N1.16 kobo. Eterna Plc declined by 8.03 per cent to close at N11.45 kobo. Flour Mills Nigeria Plc dipped by 4.57 per cent to close at N30.30 kobo, Chams Plc also shed 4.04 per cent to N1.90 kobo.
The total volume traded advanced by 35.6 per cent to 433.18 million units, valued at N8.08 billion, and exchanged in 6,650 deals. Transactions in the shares of Access Holdings led the activity with 60.182 million shares worth N1.305 billion. Guaranty Trust Holding Company (GTCO) followed with an account of 49.432 million shares valued at N1.961 billion, while Zenith Bank traded 44.782 million shares valued at N1.614 billion.
Sterling Financial Holdings Company traded 34.454 million shares worth N139.680 million, while United Bank for Africa (UBA) traded 29.309 million shares worth N696.040 million.
