BUA Cement, FBNH Lift NGX With N95b

The nation’s bourse rebounded by N95 billion on Tuesday following investors’ interest in BUA Cement and FBN Holdings (FBNH). 

Consequently, the market capitalisation rose by N95 billion or 0.45 percent to close at N21.310 trillion compared with N21.215 trillion posted on Monday. 

Also, the All-Share Index grew by 182.96 points or 0.45 percent to close at 40,896.96 from 40,714.00 achieved on Monday. 

Accordingly, the month-to-date and year-to-date gains increased to 1.7 percent and 1.6 percent, respectively. 

The upturn was majorly a result of investors’ increased buy-interest in all major sectors except the oil and gas sector. 

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, FBN Holdings (FBNH), Ecobank Transnational Incorporated (ETI), Stanbic IBTC Holding and Africa Prudential. 

The market breadth closed positive with 26 gainers and 13 losers. 

Champion Breweries drove the gainers’ chart in percentage terms with 10 percent to close at N2.53 per share. 

Cornerstone Insurance followed with 9.80 percent to close at 56k, while FBNH appreciated by 9.79 percent to close at N10.65 per share. 

Sovereign Trust Insurance rose by 9.09 percent to close at 24k, while LivingTrust Mortgage Bank appreciated by 8.96 percent to close at 73k per share. 

On the other hand, Consolidated Hallmark Insurance led the laggards’ chart in percentage terms by 6.78 percent to close at 55k per share. 

Japaul Gold and Ventures followed with 6.25 percent to close at 45k, while NEM Insurance declined by 3.81 percent to close at N2.02 per share. 

Ikeja Hotel shed 3.51 percent to close at N1.10, while Oando depreciated by 3.46 percent to close at N5.02 per share. 

Also, the total volume traded rose by 194.75 percent to 563.88 million shares worth N5.09 billion in 4,253 deals. 

This was against a turnover of 191.31 million shares valued at N2.29 billion exchanged in 4,395 deals on Monday. 

Transactions in the shares of FBNH topped the activity chart with 317.28 million shares worth N3.29 billion. 

Champion Breweries followed with 49.92 million shares worth N126.29 million, while ETI traded 38.05 million shares valued at N269.21 million. 

United Bank for Africa traded 22.54 million shares valued at N181.40 million, while Fidelity Bank transacted 16.56 million shares worth N43.35 million. nan.