{"id":24348,"date":"2020-08-03T17:31:49","date_gmt":"2020-08-03T16:31:49","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=24348"},"modified":"2020-08-03T17:31:49","modified_gmt":"2020-08-03T16:31:49","slug":"stock-market-makes-marginal-growth","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/stock-market-makes-marginal-growth\/","title":{"rendered":"Stock market makes marginal growth"},"content":{"rendered":"\n<p><strong>By Chris Ndibe&nbsp;<\/strong><\/p>\n\n\n<p>The nation\u2019s bourse commenced trading for August after Sallah break with a growth of 0.30 per cent on renewed bargain hunting.&nbsp;<\/p>\n\n\n<p>Specifically, the All Share Index (ASI) rose by 72.39 points or 0.30 per cent representing to close at 24,766.12 against 24,693.73 achieved on Wednesday.&nbsp;<\/p>\n\n\n<p>Also, the market capitalisation inched higher by N37 billion to close at N12.919 trillion compared with N12.881 trillion on Wednesday.&nbsp;<\/p>\n\n\n<p>The uptrend was impacted by gains recorded in large and medium capitalised stocks, among which were: Flour Mills, BUA Cement, GlaxoSmithkline, Guaranty Trust Bank and Neimeth International Pharmaceuticals.&nbsp;<\/p>\n\n\n<p>Analysts at United Capital Plc anticipated that outcome of first half year earnings would continue to spur market reactions this week.&nbsp;<\/p>\n\n\n<p>Also, analysts at Afrinvest Ltd believed the performance of the market this week would be majorly dictated by the trend in earnings releases.&nbsp;<\/p>\n\n\n<p>Market breadth closed positive, with 19 gainers in contrast with 16 losers.&nbsp;<\/p>\n\n\n<p>Neimeth International Pharmaceuticals dominated the gainers\u2019 chart in percentage terms, gaining 10 per cent, to close at N1.65 per share.&nbsp;<\/p>\n\n\n<p>Flour Mills followed with 9.97 per cent to close at N18.75, while University Press rose by 9.90 per cent to close at N1.11 per share.&nbsp;<\/p>\n\n\n<p>GlaxoSmithkline improved by 8.16 per cent to close at N5.30, while Honeywell appreciated by five per cent to close at N1.05 per share.&nbsp;<\/p>\n\n\n<p>On the other hand, UACN led the losers\u2019 chart in percentage terms, losing 10 per cent to close at N6.30 per share.&nbsp;<\/p>\n\n\n<p>AIICO Insurance came second with a loss of 9.57 per cent to close at 85k, while Sunu Assurances dipped 9.09 per cent to close at 20k per share.&nbsp;<\/p>\n\n\n<p>Mutual Benefits Assurance lost 8.70 per cent to close at 21k, while Custodian Investment shed 7.27 per cent to close at N5.10 per share.&nbsp;<\/p>\n\n\n<p>Also, the total volume of shares traded rose by 83.56 per cent as investors bought and sold 186.48 million shares worth N1.31 billion achieved in 4,718 deals.&nbsp;<\/p>\n\n\n<p>This was in contrast with a turnover of 101.59 million shares valued at N973.64 million transacted in 3,685 deals on Wednesday.&nbsp;<\/p>\n\n\n<p>Transcorp was the toast of investors, accounting for 23.39 million shares worth N14.35 million.&nbsp;<\/p>\n\n\n<p>Custodian Investment trailed with 19.14 million shares valued at N97.72 million, while Guaranty Trust Bank traded 18.17 million shares worth N411.61 million.&nbsp;<\/p>\n\n\n<p>FBN Holdings sold 13.54 million shares valued at N69.70 million, while United Bank for Africa sold 9.72 million shares worth N60.52 million. &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stock market records growth after Sallah break.<\/p>\n","protected":false},"author":1,"featured_media":23131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126],"tags":[171],"class_list":["post-24348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-and-industry","tag-stock-exchange","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - 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