• Thursday, July 25, 2024
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BusinessDay

Equity investors are over N600bn richer in 4 days

GTBank, Cadbury, Vitafoam commence closed periods ahead of results releases

Investors who positioned themselves in value stocks for capital gains are richer by about N610 billion within just four trading days into the week.

Following a “Hold” decision by the Central Bank of Nigeria’s Monetary Policy Committee (MPC) on Tuesday, market watchers had noted that investors would continue to show interest in the equities market as demand for short-term bills would persist while investors would continue steadily to exit long-dated bonds.

As more investors continued to take positions in attractive counters in the Nigerian equities market, the All-Share Index (ASI) again closed in the green zone on Thursday.

Stocks like Stanbic IBTC, Julius Berger, Nigerian Breweries, Lafarge Africa, Zenith Bank and others topped investors’ picks on the review trading day.

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The benchmark performance indicator of the Bourse increased by 0.57 percent to 42,169.41 points from the preceding day low of 41,928.57 points.

The market’s positive return year-to-date (YtD) printed higher at +4.71 percent. Likewise, the value of listed stocks increased to N22.059 trillion. The market opened this week with Index and capitalisation at 41,001.99 points and N21.449 trillion respectively, representing a value increase in excess of N610 billion.

Stanbic IBTC led the gainers table on Thursday after its share price moved from the preceding day low of N44 to N46.6, adding N2.6 or 5.91 percent.

It was followed by that of Julius Berger which moved up from N20.6 to N22.65, adding N2.05 or 9.95 percent.

Nigerian Breweries’ share price also increased from N61 to N63, up by N2 or 3.28 percent. Lafarge Africa increased from N29.5 to N30.3, up by 80 kobo or 2.71 percent, while Zenith Bank moved up from N26.4 to N27.2, also adding 80 kobo or 3.03 percent.

In 6,386 deals, stock dealers exchanged 555,321,328 units valued at N5.764 billion. Transcorp, Union Bank, Zenith Bank, Dangote Sugar Refinery and UACN were actively traded stocks on the Bourse.