Champion Breweries Leads Market Into Gains

Transactions on the national bourse extended positive growth on Thursday with the All-share index appreciating further by 0.13 percent to 38,615.11 points.

As a result, month-to-date gain increased to 0.5 percent, while year-to-date loss moderated to 4.1 percent.

Also, the market capitalization garnered N26 billion or 0.13 percent to close at N20.125 trillion.

The market upturn was driven by price appreciation in large and medium capitalized stocks amongst which are; Nigerian Breweries, Berger Paints, Guaranty Trust Bank, Champion Breweries, and UACN.

The market sentiment closed positive with eighteen gainers against eight laggards.

Champion Breweries led the gainers’ chart in percentage terms with 10 percent to close at N1.98 per share.

Wapic Insurance followed with 9.43 percent to close at 58kobo, while Lasaco Assurance was up by 7.91 percent to close at N1.50 per share.

Berger Paints rose by 7.69 percent to close at N7.70, while Mutual Benefits Assurance gained 6.52 percent to close at 49kobo per share.

Conversely, Consolidated Hallmark Insurance drove the losers’ chart in percentage terms by 8.96 percent to close at 61kobo per share.

Unity Bank followed with 3.51 percent to close at 55k, while Sterling Bank shed 1.91 percent to close at N1.54 per share.

International Breweries dipped 1.82 percent to close at N5.40, while Linkage Assurance shed 1.79 percent to close at 56kobo per share.

Meanwhile, the total volume of shares transacted decreased by 47.0 percent as investors bought and sold 160.44 million shares valued at N1.39 billion exchanged in 3,260 deals.

This was in contrast with a turnover of 302.72 million shares worth N2.81 billion achieved in 4,387 deals on Wednesday.

Transactions in the shares of Wema Bank topped the activity chart with 27.24 million shares valued at N15.003 million.

Mutual Benefits Assurance followed with 21.393 million shares worth N10.51 million, while Zenith Bank traded 16.27 million shares valued at N382.13 million.

Sterling Bank traded 12.29 million shares valued at N18.84 million, while FBN Holdings transacted 7.92 million shares worth N57.12 million.