FBNH, STERLING BANK LEAD AS INVESTORS GAIN N134BN
Equities market closed Tuesday on a positive to reverse prior two days’ negative sentiment following gains recorded majorly by blue-chip stocks. The positive sentiment brought the market’s Year-to-date returns to currently stand at -22.04 per cent. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 1.24 per cent to close the trading session positive as market sentiments returned to gaining streaks following gains recorded by FBNH Plc, Sterling Bank and 22 other firms.
Consequently, the All-Share Index gained 255.81 basis points or 1.24 per cent to close at 20,925.19 as against 20,669.38 recorded the previous day while the market capitalisation of equities appreciated by N134bn or 1.24 per cent to close at N10.905tn from N10.771tn as market sentiment returned to the green zone. Meanwhile, a turnover of 1.4 billion shares exchanged in 4.647 deals was recorded in the day’s trading. Mortgage carriers, brokers and services subsector was the most active (measured by turnover volume), with 1.1 billion shares exchanged by investors in one deal.
Volume in the subsector was largely driven by activities in the shares of Omoluabi Mortgage Bank Plc. Premium subsector boosted by activities in the shares of FBNH Plc and Zenith Bank Plc followed with a turnover of 183.7 million shares in 1,074 deals. The number of gainers at the close of trading session was 24 while decliners also closed at 10.
FBNH Plc led the gainers’ table with a gain of 10 per cent to close at N4.40 per share while Sterling Bank Plc followed with a gain of 9.91 per cent to close at N1.22 per share. Fidelity Bank Plc added 9.84 per cent to close at N2.01 per share. On the other hand, Cadbury Nigeria Plc led the price losers’ table, dropping 10 per cent to close at N6.30 per share. ARDOVA Plc followed with 9.78 per cent to close at N12.45 per share while Mansard Insurance Plc trailed with a loss of 9.71 per cent to close at N1.58 per share.