Market capitalisation rises by N107b
Market resumed the week positive to continue the gaining trend of the previous week as the benchmark index advanced 0.90% at the close of trading.
Despite the gain, activity remained on a low ebb as the volume and value of transactions both declined by 23.58% and 16.36% respectively.
Market breadth settled at 2.16x with 39 advancers against 18 decliners while YtD return rose to 34.34%. From the sectoral angle, all sectors traded within the positive region with the food & beverage sector gaining the most having traded 1.49% higher. The NSE-30 also traded 1.10% higher as most large capitalisation stocks appreciated today.
Specifically, market capitalisation appreciated by 0.90 per cent to N107 billion, to N11.945 trillion from N11.838 trillion traded on Friday.
Similarly, the All Share Index (ASI) appreciated by 337.83 basis points to close at 37720.32 points from 37382.49 point recorded previously.
Further review of yesterday's trading showed that investors bought 189.461 million shares worth N2.464 billion traded in 5291 deals against 48.790 million shares valued at N842.259 million made in 1346 deals.
A breakdown of the transaction showed that Guinness Nigeria Plc led gainers table, enhancing by N14.89 kobo to close at N266.00, 7UP followed with a gain of N4.99 kobo to close at N59.99 kobo while Julius Berger Nigeria Plc, Nigerian Breweries and Unilever appreciated by N4.87 kobo, N3.00 and N2.00 respectively to close at N74.89 kobo, N168.00 and N60.00. On the other hand, ,CAP Plc topped the losers chart, dropping by N2.50 kobo to close N46.00, Berger Paint trailed with a loss of N1.09 kobo to close at N9.85 kobo while Arbico went down by N0.62 kobo to close at N5.60 kobo. Other stocks that recorded price depreciation were NASCON and Eterna Oil which declined by N0.31 kobo and N0.19 kobo to close at N12.89 kobo and N3.16 kobo.
First City Monument Bank Plc recorded the highest volume of activities as it exchanged 21.478 million shares worth N106.966 million, Custodian Insurance followed with account of 16.430 million shares valued at N26.452 million while FBN Holdings traded 13.004 million shares valued at N235.002 million.
United Bank for Africa UBA took fourth position with a total of 10.922 million shares cost N90.391 million and Zenith Bank exchanged 10.907 million shares valued at N229.319 million.
According to analysts from Meristem Securities, 'We believe the current positive mood will be sustained given expectations of 2013Q1 numbers as well as the general market optimism. We forecast that the market will return within the band +0.75-1% by the end of the week.'