Nigerian breweries, Stanbic lead as market gain N9bn

The local bourse on Tuesday opened the trading week on the positive trajectory after two-day Sallah holiday declared by the Federal Government.

The major performance measures, the NSE ASI and market capitalisation, rose further by 0.07 per cent each as the equity market sustained positive sentiment.

Consequently, the All-Share Index rose by 10.66 basis points or 0.07 per cent to close at 25,221.23 index points as against 25,204.75 recorded last Friday while market capitalisation of equities appreciated by N9bn or 0.07 per cent to close higher at N13.144tn from N13.135tn as market sentiment remained on the green territory.

A turnover of 581.61 million shares in 7,759 deals was recorded in the day’s trading.

Premium subsector was the most active (measured by turnover volume), with 292.34 million shares exchanged by investors in 3,170 deals.

Volume in the subsector was driven by activities in the shares of Zenith Bank Plc and FBNH Plc.

Banking subsector boosted by the activities in the shares of GTB Plc and Wema Bank Plc followed with a turnover of 119.19 million shares in 1,167 deals.

The number of gainers at the close of trading session was 32 while decliners closed at 11.

A further analysis of the day’s trading showed that Nigerian Breweries Plc led  the gainers’ table with 10 per cent to close at N43.45 per share while Stanbic IBTC Bank Plc followed with 9.98 per cent to close at N35.80 per share and May and Baker Plc with a gain of 9.96 per cent to close at N3.09 per share.

On the flip side, Ardova Plc (formerly Forte Oil Plc) led the losers’ chart with a drop of 10 per cent to close at N14.40 per share. Regency Alliance Insurance Plc followed with a loss of 8.70 per cent to close at 21 kobo per share while Afromedia Plc dropped by 7.14 per cent to close at 26 kobo per share.