Blue-chip stocks gain as market capitalisation increases by N53bn

By Cynthia Ezekwe

Transactions at the Nigeria Stock Exchange on Tuesday, December 6, 2022 , revealed that market capitalisation increased by N53 billion,alongside gains by blue-chip stocks such as Nigerian Exchange Limited (NGX),BUA cement, and Ecobank Transnational Incorporated (ETI).

The increase was impacted by gains recorded in medium and large capitalised stocks, amongst which are: BUA Cement, Ecobank TransNational Incorporated (ETI), NASCON Allied Industries, Nigerian Exchange (NGX) and Champion Breweries.

The transactions disclosed that  overall market capitalisation value gained N53 billion to close at N26.344 trillion, while the All Share Index (ASI) rose by 96.46 points, representing an increase of 0.20 per cent to close at 48,366.69 points.

Market sentiment,which was majorly positive, showed that 16 stocks gained, while 13 were bearish.

According to the record,Honeywell Flour Mills had the highest price gain of 8.06 per cent to close at N2.28 per share;  Champion Breweries followed with a  7.14 per cent gain  to close at N3.75 per share, while ETI rose by 4.98 per cent to close at N10.55, per share.

Lasaco Assurance gained 4.71 per cent to close at 89 kobo per share, while R.T. Briscoe Nigeria appreciated by 4.00 per cent to close at 26 kobo, per share.

Livestock Feeds was  up 3.98 per cent to close at N1.11 kobo per share; BUA cement gained 2.50 per cent to close at N82 per share; Jaiz Bank gained 2.30 kobo to close at 89 kobo per share;  AIICO increased by 1.89 per cent to close at 54 kobo, while African Prudential increased by  1.82 per cent to close at N5.60 kobo per share.

On the losers chart, UACN Property Development Company (UPDC) depreciated by 7.07 per cent to close at 92 kobo per share; Wema Bank followed with a decline of 6.12 per cent to close at N3.22 per share,while FTN Cocoa processors depreciated by 3.33 per cent to close at 29 kobo per share.

Wapic Insurance lost 2.63 per cent to close at 37 kobo per share, while Oando depreciated by 2.50 per cent to close at N3.90 per share.

 GEREGU lost 2.44 per cent to close at N108 kobo. GTCO shed 1.64 per cent to close at N21.05 kobo, while  FBN Holdings fell  by 1.37 per cent to close at N10.80 kobo per share.

CWG dropped 1.25 per cent to close at 79 kobo. Fidelity Bank shed 120 per cent to close at N4.10 kobo. Sterling Bank also fell by 71 per cent to close N1.39 KOBO.

The record also revealed that the total volume of trades decreased by 71.16 per cent to 184.657 million units, valued at N3.572 billion exchanged in 3,189 deals.