By Chinyere Joel-Nwokeoma
Lagos – The Nigeria equities market on Thursday appreciated by 0.17 per cent on the last trading day of October 2019, amid bargain hunting.
Specifically, the All-Share Index improved by 44.58 points or 0.17 per cent to close at 26,355.35 compared with 26,310.77 achieved on Wednesday.
Also, market capitalisation inched N22 billion or 0.17 per cent to close at N12.829 trillion in contrast with N12.807 posted on Wednesday.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat Petroleum Development Company (SEPLAT), Nigerian Breweries, Dangote Cement, Flour Mills of Nigeria and University Press (UPL).
Analysts at Afrinvest Limited said that “Although, we have seen slight gains in the equities market recently, we do not expect this to be sustained as investors’ maintain a risk-off approach.”
Market breadth closed positive with 18 gainers and 13 losers.
Seplat recorded the highest price gain of 9.28 per cent, to close at N565 per share.
Chams followed with a gain of 9.09 per cent to close at 24k,while Jaiz Bank grew by 8.89 per cent to close at 49 per share.
Consolidated Hallmark Insurance and Nigerian Breweries appreciated by 8.11 per cent each to close at 40k and N50, per share, respectively.
Conversely, Unity Bank led the losers’ chart with a loss of 8.47 per cent, to close at 54k per share.
Law Union and Rock Insurance came second with a loss of 8.16 per cent to close at 45k, while Union Diagnostic lost eight per cent to close at 23k per share.
Oando dipped 7.44 per cent to close at N3.11, while Guaranty Trust Bank dropped by 2.35 per cent to close at N24.90 per share.
The total volume traded rose by 121.73 per cent with an exchange of 347.797 million shares worth N6.79 billion traded in 2,756 deals.
This was against a turnover of 156.85 million shares valued at N1.81 billion achieved in 3,088 deals on Wednesday.
Zenith Bank topped the activity chart with a total of 103.69 million shares worth N1.77 billion.
FCMB Group followed with 85.12 million shares worth N136.57 million, while Guaranty Trust Bank accounted for 39.18 million shares valued at N980.52 million.