Nigerian equities garnered circa N111bn yesterday as stock investors took further position in equities like Nigerian Breweries plc, Julius Berger Nigeria plc, Lafarge Africa plc, Stanbic IBTC Holdings plc, and Zenith Bank plc. The Nigerian Stock Exchange (NSE) All Share Index (ASI) rose by 333.95 or 1.10 percent from 30,267.18 points to 30,601.13 points the preceding trading day. Equities market capitalisation closed high at N10.210trn compared to N10.099trn recorded the preceding trading day. In 5,324 deals, equity dealers exchanged 510.059million units valued at N4.910bn.
Brent crude futures rose above $60 a barrel on Tuesday, after a sharp drop in the previous session on record U.S. stocks, as firm Asian markets supported prices. As fighting in Libya and signs of stronger global demand outweighed persistent concerns about a supply glut, Brent for April delivery traded $1.30 higher at $60.84 a barrel by 1356 GMT. It had traded as high as $61.78 earlier in the day. U.S. crude futures, also known as West Texas Intermediate or WTI, were up 34 cents at $49.93 a barrel.
Nigerian Breweries plc led the gainers’ table after its share price rose by N6.99, from N143 to N149.99; Julius Berger Nigeria plc gained N2.2, from N44 to N46.2; Lafarge Africa plc rallied by N2, from N85 to N87; Stanbic IBTC plc appreciated by N1.23, from N24.71 to N25.94; while Zenith Bank N0.89, from N17.85 to N18.74. UAC of Nigerian plc led the losers’ table after its share price lost N2.42, from N38.36 to N35.94; followed by Dangote Cement plc which declined by N1, from N153 to N152. Also, 7-Up Bottling Company plc lost N0.5, after declining from N154.5 to N154; Portland Paints plc dipped from N3.83 to N3.64, losing N0.19; while GTBank plc lost N0.18, from N24.19 to N24.01
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