…As market resumes from Holiday
By Chinwendu Obienyi
The Nigerian Stock market All Shares Index (ASI) rose by 1.67 per cent to close at 32,657.30 points to lift market capitalisation to N11.29 trillion at the close of Wednesday’s session, stating a strong start for the final trading week of June
This comes as financial markets across the country resumed from the two-day Eid-el-Fitri holiday declared by the Federal Government.
Transactions on the trading floor yielded a turnover of 386.23 million shares worth over N3.30 billion in 4,372 deals even as 25 stocks advanced while 18 others declined in value.
UBA emerged top on the gainers’ chart, appreciating by 8.17 per cent to close at N9.00 per share. DANCEM followed with 2.25 per cent to close at N200 per share while Nigerian Breweries appreciated by 1.73 per cent to close at N910.
On the flipside, Okomu oil led the losers’ pack, depreciating by -4.99 per cent to close at N58.49 per share. Julius Berger fell further by -4.99 per cent to close N39.45 per share while Unilever depreciated by -4.98 per cent to close at N40.85.
Further analysis showed that investors’ preference for stocks were highly reflected in the performance of UBA which remained the volume driver with 87.11 million shares valued at N762 billion. Wema Bank and Transcorp recorded 51.89 and 37.41 million shares worth N28.5 billion and N54.4 billion respectively.
This was in contrast to the value traded which depreciated by 23.30 per cent to N24.6 billion with Zenith Bank, GTB and Nigerian Breweries (NB) accounting for 49.53 per cent of total value last week.