NSE All-Share Index rebounds by 0.45%, amid renewed buying interest

NSE All-Share IndexMay 29: Market capitalisation inches to N490bn returns to 30,000 mark, amid MTN Nigeria gains
Access Bank Plc

Transactions on the nation’s bourse closed northward on Thursday with the market indices appreciating by 0.45 per cent after dropping for two consecutive days.

Speficially, the All-Share Index (ASI) increased by 133.08 points or 0.45 per cent to close at 29,591.29 compared with 29,458.21 recorded on Wednesday.

Similarly, the market capitalisation of listed equities rose by N69 billion to close at N15.242 trillion against N15.173 trillion achieved on Wednesday.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat, Chemical and Allied Products, Dangote Cement, Unilever Nigeria and BUA Cement.

Analysts at Afrinvest Limited expected gains in the market to persist in the next trading session, on the back of renewed buying interest.

Market breadth closed flat with 14 gainers and 14 losers.

An analysis of the price movement table shows that CAP led the gainers’ in percentage terms, with 10 per cent to close at N27.50 per share.

Unilever followed with a gain 8.06 per cent to close at N19.45, while Chams rose by 6.45 per cent to close at 33k per share.

Transcorp increased by 4.85 per cent to close at N1.08, while Fidelity Bank appreciated by 4.55 per cent to close at N2.30 per share.

Conversely, Linkage Assurance led the losers’ chart in percentage terms, losing 8.33 per cent to close at 44k per share.

Wapic Insurance trailed with 7.89 per cent to close at 35k, while Honeywell Flour Mills dropped 7.69 to close at N1.08 per share.

AIICO Insurance lost 5.68 per cent to close at 83k, while Jaiz Bank dipped 4.41 per cent to close at 65k per share.

However, the total volume traded closed lower with an exchange of 196.93 million shares worth N7.71 billion traded in 2,915 deals.

This was against a total of 315.67 million shares valued at N3.64 billion achieved in 4,392 deals on Wednesday.

Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 26.59 million shares worth N227.02 million.

FCMB Group came second with 23.44 million shares valued at N46.63 million, while Access Bank sold 20.39 million shares worth N206.09 million.

Guaranty Trust Bank accounted for 15.99 million shares valued at N513.65 million, while Zenith Bank traded 15.23 million shares worth N334.99 million.