Chinwendu Obienyi
President Muhammadu Buhari’s assignment of portfolios to the new Ministers on Wednesday continued to stimulate market activities and increasing appetite for stocks yesterday as market capitalisation appreciated by N135 billion.
Consequently, the All Share Index (ASI) got a lift, notching up 1.01 per cent to settle at 27,629.66 points, while investors gained N135 billion to close at N13.441 trillion from N13.306 trillion recorded in the previous trading session.
Market breadth remained positive with 22 stocks appreciating and 13 others depreciating. Eterna topped the gainers’ chart with 10 per cent gain to close N2.75 per share, ETI gained 9.49 per cent to close at N7.50, Wapic increased by 8.82 per cent to close at 0.37 kobo, Jaiz Bank rose by 5.41 per cent to close at 0.39 kobo while Honeywell Flour garnered 4.90 per cent to close at N1.07.
On the other hand, NCR topped the losers’ chart with 10 per cent to close at N4.95 per share. UPL followed with 10 per cent to close at N1.44, MRS fell by 9.83 per cent to close at N18.80, Okomu oil dropped 9.78 per cent to close at N40.15, while FCMB lost 5.88 per cent to close at N1.60.
Overall, the volume and value of stocks traded stood at 272.60 million units and N4.49 billion respectively, in 3,425 deals.
Meanwhile the Nigerian Stock Exchange (NSE) has delisted the shares of the defunct Skye Bank Plc and Fortis Microfinance Bank Plc following approval from the National Council of the Exchange.
In a notification to market operators, the NSE said the delisting which was pursuant to Clause 15 of the General Undertaking , Appendix 111 of the the Rule Book of the Exchange, was as a result of the revocation of their operating licences by their primary regulator, the Central Bank of Nigeria (CBN).