Investors gain N49 billion as Stanbic IBTC Holdings, Unilever, others buoy equities market by 0.32%


Gains recorded today in some heavily capitalised stocks, including Unilever Nigeria Plc, Stanbic IBTC Holdings Plc, Cadbury Nigeria Plc buoyed equities performance by 0.32 percent after the market recorded temporary correction on Wednesday.

The day’s trading saw investors gain N49 billion as the market capitalisation rose to N15.480 trillion from N15.431 trillion the previous day.

NSE moves 403.14m shares worth N9.14bn Japaul Oil and Maritime Services Plc again led the gainers as its share price jumped by 9.88 percent to close at N0.89 from N0.81.

Wapic Insurance Plc placed second on the list, rising by 8.62 percent to close at N0.63 from N0.58 per share.

Unilever Nigeria Plc followed with 7.49 percent increase to close at N64.60 from N60.10; Hallmark Insurance Plc, which has been recording increased activity sine January when the Nigerian Stock Exchange, NSE, implemented its par value rule, appreciated by 5.71 percent to close at N0.37 from N0.35, while Lasaco Assurance Plc advanced by 5.26 percent to close at N0.40 from N0.38 per share.

On the laggards side, C&I Leasing Plc led the losers, declining by 9.28 percent to close at N1.76 from N1.94. Regency Alliance Insurance Company Plc ranked second, depreciating by 7.50 percent to close at N0.37 from N0.40.

Jaiz Bank Plc dipped by five percent to close at N0.95 from N1.00; May & Baker Plc’s shares fell by 4.90 percent to close at N2.91 from N3.06, while Caverton Offshore Group Plc closed the list of top five losers, dropping by 4.71 percent to close at N2.63 from N2.76 per share.

In all, 28 losers emerged during the day against 30 gainers recorded.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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