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Nigeria: All-Share Index Year-to-Date Growth Hits 32,2%

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Nigeria: All-Share Index Year-to-Date Growth Hits 32,2%

The year-to-date (YTD) growth of the Nigerian Stock Exchange (NSE) All-Share Index (ASI) hit 32.2 per cent yesterday on the back of the continued bull run.

The market has recorded positive performance in the past three days with the NSE ASI gaining 0.76 per cent to close at 35,493.15.

The sustained gains have boosted the YTD growth to 32.2 per cent. Also, the market capitalisation added N 140 billion to close at N18.6 trillion.

The positive performance yesterday was buoyed by buying interest in bellwethers such as Nestle Nigeria Plc, Zenith Bank Plc, and Guaranty Trust Bank Plc. In all, 26 stocks appreciated while 13 stocks depreciated. AXA Mansard Insurance Plc led the price gainers with 10 per cent, trailed by May & Baker Nigeria Plc with 9.8 per cent. NCR Nigeria Plc garnered 9.6 per cent, just as University Press Plc went up 9.2 per cent

Unity Bank Plc gained 8.0 per cent, while UACN Property Development Company Plc and Nestle Nigeria Plc appreciated by 7.5 per cent and 7.5 per cent apiece. Japaul Gold and Ventures Plc chalked up 7.4 per cent.

The company, which used to operate in the maritime and oil gas sector of the economy before venturing the exploration, mining and processing of minerals, recently announced a profit after tax of N91 million for the nine months ended September 30, 2020, showing a recovery from a loss of N2.10 billion posted in the corresponding period of 2019.

Market operators had said the recovery was a good development, saying the improved fortunes came from its diversification from oil and maritime services business to the exploration, mining, processing and export of minerals, such as gold, lithium among others.

Other top price gainers included: Flour Mills of Nigeria Plc (7.2 per cent); Transcorp Plc (5.4 per cent) Coronation Insurance Plc ( 4.7 per cent); Fidelity Bank Plc (4.4 per cent); Mutual Benefits Assurance Plc (4.0 per cent); Jaiz Bank Plc (3.5 per cent) and Guinness Nigeria Plc (3.3 per cent).

Conversely, Cornerstone Insurance Plc led the price losers with 8.3 per cent, trailed by Linkage Assurance Plc with a decline of 8.1 per cent. LASACO Assurance Plc went down by 6.0 per cent, just as ABC Transport Plc shed 5.7 per cent. Chams Plc, Oando Plc, United Capital Plc and Lafarge Africa Plc lost 4.5 per cent, 3.4 per cent , 3.0 per cent and 2.2 per cent in that order.

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