Capital market analysts has attributed yesterday’s upward swing in trading indicators to the announcement of ministerial positions by the presidency.
They said, “We expect more activities in the market for the remaining trading sessions of the week on renewed investor’s optimism.”
The market capitalisation which opened at N9.963 trillion, increased by N11 billion, to close at N9.974 trillion. Similarly, the All-Share Index gained by 0.12 per cent or 33.66 points to close at 29,014.78, from the 28,981.12 achieved on Tuesday.
Market breadth still on the negative side with 12 gainers and 25 laggards recorded. Forte Oil recorded the highest price gain of N5.98, to close at N282 per share. Nigerian Breweries trailed with a gain of N3.49 to close at N133, while Flourmill went up by 95 kobo to close at N21.85 per share.
Zenith Bank up by 21 kobo to close at N17.20, while Access Bank appreciated by 18 kobo to close at N4.68 per share.
On the other hand, Nestle led the losers’ chart by N5.99, to close at N817 per share. UACN shed N1.19 to close at N27.91, while Cadbury down by N1 to close at N19.10 per share.
Oando depreciated by 82 kobo to close at N7.66, while International breweries went down by 74 kobo to close at N15.26 per share.
Also, total volume of shares transacted decreased by 31.54 per cent to 317.40 million while value decreased by 19.35 per cent to N1.45 billion in 3,067 deals. Top in volume transacted was Access Bank with a total volume of 95.62 million valued at N445.49 million. Mansard Insurance exchanged 20.78 million shares valued at N55.9 million, while Transcorp sold 13.28 million shares worth N25.95 million.
FBN Holdings traded 11.23 million valued at N56.36 million and Multiverse sold 7.88 million worth N3.94 million.
Source : Leadership