Stock market investors gain N86bn in 3 days

Chinwendu Obienyi

Strong sentiment from investors on the Nigerian Stock Exchange, has lifted its market capitalisation by N86 billion in three consecutive trading sessions.

Despite price depreciation in some of the heavyweights stocks- Zenith Bank, Dangote Cement and Guinness, proceedings at the Nigerian Stock Exchange (NSE) sustained its positive start into the new month of June with investors garnering about N13 billion to close at N13.254 trillion compared with gains of N48 billion and N25 billion recorded on Monday and Tuesday.

This was even as the All Share Index rose by 0.10 per cent to close at 25,407.96 points while year-to-date (ytd) return improved to -5 per cent. Reacting to the performance of the market, analysts were quick to point out that investors are gradually making a cautious come back to the market after global economies including Nigeria’s relaxed lockdowns and are now opening up.

Meanwhile, 19 equities depreciated while 18 others appreciated in value. PZ led the losers’ chart with 9.43 per cent to close at N4.80 per share. Cileasing was next with 9.35 per cent to close at N4.85, Afromedia lost 8.70 per cent to close at 0.21 kobo, Cornerstone dropped 8.33 per cent to close at 0.55 kobo while UACN declined by 8.33 per cent to close at N7.70.

On the flipside, Neimeth topped the gainers’ chart with 9.70 per cent to close at N1.47 per cent. Sky Aviation followed with 9.66 per cent to close at N2.27, Presco increased by 9.04 per cent to close at N45.25, Japaul Oil garnered 8.33 per cent to close at 0.26 kobo while Lasaco adavnced with 8 per cent to close at 0.27 kobo.

FBN Holdings was the most active stock, selling over 50.29 million shares valued at N277.25 million. Nigerian Breweries sold 45.93 million shares worth N2.02 billion while GT Bank traded 42.39 million shares valued at N1.06 billion.

Furthermore, the volume and value of stocks traded stood at 353.32 million units and N7.03 billion respectively, exchanged in 4,659 deals.

This contrasts with 377.9 million units and N6.1 billion respectively, exchanged in 4,585 deals recorded in the previous trading session.