Monday, November 29, 2021

    Investors Airtel Africa bargain hunting spikes 0.06% marginal growth at NSE

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    Godwin Okafor
    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.

    Lagos, July 15, 2020 The Nigerian Stock Exchange (NSE) on Wednesday recorded the first gain of the week, appreciating marginally by 0.06 per cent due to bargain hunting in Airtel Africa.

    Accordingly, the All-Share Index rose by 15.67 points or 0.06 per cent to close at 24,130.26 compared with 24,114.59 posted on Tuesday.

    Also, the overall market capitalisation improved by gained N8 billion to close at N12.587 trillion in contrast with N12.579 trillion on Tuesday.

    The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Airtel Africa, Dangote Sugar, Guaranty Trust Bank, Cutix and Access Bank.

    A breakdown of the price movement chart indicated that Sunu Assurances dominated the gainers’ chart in percentage terms, appreciating by 10 per cent, to close at 22k, per share.

    Cutix followed with 7.69 per cent to close at N1.82, while Dangote Sugar improved by 5.17 per cent to close at N12.20, per share.

    Mutual Benefits Assurance rose by 4.76 per cent to close at 22k, while Airtel Africa appreciated by 3.44 per cent to close at N340, per share.

    Conversely, Julius Berger led the losers’ chart in percentage terms, losing 9.88 per cent, to close at N15.50, per share.

    Nigerian Breweries followed with a decline of 9.84 per cent to close at N30.70, while Linkage Assurance lost 9.80 per cent to close at 46k, per share.

    Wapic Insurance dipped 9.09 per cent to close at 30k, while Caverton shed 6.15 per cent each to close at N1.83, per share.

    However, the total volume of shares transacted closed flat with an exchange of 208.21 million shares, valued at N1.76 billion in 3,648 deals.

    This was in contrast with 208.20 million shares worth N1.06 billion traded in 4,174 deals on Tuesday.

    Sterling Bank drove the activity chart, accounting for 77.19 million shares valued at N95.71 million.

    United Bank for Africa came second with 19.82 million shares valued at N119.99 million, while Zenith Bank traded 15.95 million shares worth N247.89 million.

    FBN Holdings sold 12.86 million shares valued at N64.97 million, while FCMB Group transacted 9.34 million shares worth N17.74 million.

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