Airtel Africa, Oando others lead NGX N450 billion gain

Airtel Africa, Oando others lead NGX N450 billion gain

Following gains recorded by many blue-chip companies, especially Airtel Africa and Oando, the equities market sustained a rising profile yesterday, as market capitalisation appreciated further by N450 billion.

At the close of trading yesterday, the All-Share Index (ASI), which measures the performance of quoted companies, rose by 450.52 points or 1.0 per cent to 43,476.75 from 43,026.23 at which it closed on Tuesday. Similarly, market capitalisation of listed equities increased by N450 billion from N23.183 trillion to N23.426 trillion.

Market sentiment, as measured by market breadth, was positive as 21 stocks appreciated in price while 13 constituted the losers’ chart.

Analysts at Investdata Consulting Limited said: “We expect a mixed trend as repositioning in dividend-paying stocks ahead of 2021 Q4 and full year unaudited earnings reports start rowing in any moment from next week.

“Just as two companies that made their corporate actions available to the market grew their dividend payout to reflect the numbers posted.

“Also, inflow into equities space is looking up slowly on changing investment decisions to keep this trend ahead of New Year holiday.”

On the price movement chart, Airtel led the gainers’ chart with 10 per cent to close at N1,050.50 kobo while Oando followed with 9.73 per cent to close at N4.85 kobo. AIICO added 8.33 per cent to close at 78 kobo. Ardova gained 7.69 per cent to close at N12.60 kobo. Caverton garnered 6.25 per cent to close at N1.70 kobo. Fidson appreciated by 6.11 per cent to close at N6.60 kobo. UPDC added 6.09 per cent to close at N1.22 kobo. Lasaco increased by 5.77 per cent to close at N1.10 kobo. Chams also gained five per cent to close at 2 kobo.

However, Unity Bank emerged the day’s highest price loser with 9.62 per cent to close at 77 kobo while Royal Exchange followed with 9.41 per cent to close at 45 kobo.

Regency Assurance lost 8.16 per cent to close at 45 kobo. Union Bank shed 6.90 per cent to close N5.40 kobo. Mutual Benefit Assurance declined 6.25 per cent to close at 30 kobo while Livestock Feeds depreciated by 5.85 per cent to close N1.93 kobo.
The total volume of trades increased by 472.8 per cent to 1.241 billion units, valued at N42.966 billion and exchanged in 4,032 deals.

Transactions in the shares of BUA Foods topped the activity chart with 1.007 billion shares valued at N40.534 million. Wema Bank followed with 25.015 million shares worth […]

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