NSE Trading Floor

Equities Market Gains 0.15%, As UBA Cancels 2.08bn Shares

By Nse Anthony-Uko
(Sundiata Finance) – The Nigerian equities market, on Wednesday gained 0.15 per cent reversing previous day’s loss. In summary, the All Share Index (ASI) gained 52..48 absolute points, representing a growth of 0.15 per cent to close at 35,358.57 points. Meanwhile, the market capitalisation remained unchanged as it closed at N12.171 trillion, same as the previous day.

UBA notified the dealing members that 2.08 billion ordinary shares of the Bank were cancelled from the daily official list of the Exchange, yesterday, October 4, 2017. According to the bank, the cancellation is pursuant to a resolution passed at UBA Annual General Meeting on April 4, 2016 to cancel the shares held by its Staff Share Investment Trust Scheme (SSITS).

“The total outstanding ordinary shares of UBA before the cancellation was 36.28 billion, while the total outstanding ordinary shares after the cancellation is 34.2 billion ordinary shares.

Yesterday stocks market performance was impacted by gains recorded in medium and large capitalised stocks, amongst which are; National Salts, UBA, Total, Zenith, Honeywell Flour, Stanbic IBTC, Access Bank and Nestle.

Market breadth was positive, with 19 gainers versus 18 losers. CI Leasing recorded the highest price gain of 9.50 per cent, to close at N1.96 per share. National Salts followed with a gain of 4.99 per cent to close at N12.62, while UAC-Property and Vitafoam appreciated by 4.91 per cent, each to close at N2.85 and N2.63 per share, respectively. Also, Caverton went up by 4.59 percent, to close at N1.14 per share.

On the other hand, MRS led the losers’ chart by 4.97 per cent, to close at N30.39 per share. Continental Reinsurance followed with a decline of 4.67 per cent to close at N1.43, while Learn Africa depreciated by 3.80 per cent to close at 76 kobo per share. Unity Bank declined by 3.51 percent, to close at 55 kobo and Dangote Sugar declined by 3.30 per cent to close at N13.47 per share.

Meanwhile, the total volume traded depreciated by 72.56 per cent to 174.07million shares, worth N2.72 billion, and traded in 3,599 deals. Transactions in the shares of UBA topped the activity chart with 25.4 million shares valued at N227.22 million. FBN Holdings followed with 23.37 million shares worth N133.31 million, while Zenith Bank traded 17.35 million shares valued at N165.91 million.

Access Bank traded 17.29 million shares valued at N165.91 million, while Guaranty Trust Bank sold 16.46 million shares worth N658.56 million.

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