The Nigerian equities market, yesterday rounded up trading activities for the month of March in the green by N33 billion, continuing the prior day’s positive trend.
The All Share Index (ASI) rose by 61.00 points, representing an increase of 0.13 per cent to close at 46,965.48 points. While the overall market capitalisation value gained N33 billion to close at N25.312 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Okomu Oil, MTN Nigeria Communications (MTNN), FBN Holdings (FBNH), Airtel Africa and AXA Mansard Insurance.
On the outlook for the market, GTI Securities Limited said “The market recovery continues yesterday, as gains from bellwether stocks such as MTNN, Okomu Oi and others sustained the market’s upward trajectory.
“We expect to see a mixed reaction in the market as companies roll out their audited financial statements for the year ended 2021. Investors will be on the lookout for stocks with good fundamentals.”
However, market sentiment, as measured by market breadth closed negative as 30 stocks declined, relative to 14 gainers.
Meyer Plc recorded the highest price gain of 10 per cent to close at 66 kobo, per share. AXA Mansard Insurance followed with a gain 9.72 per cent to close at N2.37, while FBNH gained 6.90 per cent to close at N12.40, per share.
Courteville Business Solutions rose by 5.66 per cent to close at 56 kobo, while Okomu Oil appreciated by 4.32 per cent to close at N149.70, per share.
On the other hand, Northern Nigeria Flour Mills (NNFM) led the losers’ chart by 10 per cent to close at N9.00, per share. Neimeth International Pharmaceuticals followed with a decline of 9.55 per cent to close at N1.42, while Berger Paints depreciated by 9.33 per cent to close at N6.80, per share.
R.T. Briscoe Nigeria declined by 9.23 per cent to close at 59 kobo, while Nigerian Breweries depreciated by 9.10 per cent to close at N40.45, per share.
The total volume of trades increased 27.3 per cent to 256.020 million units, valued at N3.660 billion, and exchanged in 4.227 deals.
Transactions in the shares of Fidelity Bank topped the activity chart with 77.345 million shares valued at N242.267 million. UAC of Nigeria (UACN) followed with 16.955 million shares worth N198.695 million, while Chams traded 15.454 million shares valued at N3.218 million.
Zenith Bank traded 15.248 million shares valued at N343.360 million, while Access Holdings transacted 15.230 million shares worth N149.851 million.