Stock market gains by 2.39% in three days
By Kayode Tokede
The stock market of the Nigerian Exchange Limited (NGX) in the last three days sustained positive trend amid price appreciation in large-mid capitalised stocks.
The stock prices appreciation in the likes of GTCO plc, Dangote cement plc, among others impacted on the NGX capitalisation market, gaining 2.39 per cent in three days of active trading.
Consequently, the NGX All Share Index (ASI) in three days rose by 2.39 per cent but gained 0.11 per cent yesterday to close at 39,490.06 basis points from 39,448.46 basis points.
The market capitalisation on Thursday gained N21.67billion to close at N20.575trillion as against N20.553 trillion it opened for trading.
The stock market on Wednesday appreciated by N317.5billion and it also gained N141.6 billion on Tuesday.
However, the N21.67 billion gained in stock market of Thursday was buoyed by investors’ buy-sentiment in GTCO, Zenith Bank Plc and Dangote cement.
The stock market upturn brings its performance in Month-to-Date increased to 2.5per cent, while Year-to-Date loss moderated to -1.9per cent.
On sectors, the Insurance (-1.8 per cent), Banking (-0.2 per cent) and Oil & Gas (-0.2 per cent) indices recorded declines, the Industrial Goods (+0.4 per cent) index gained, while the Consumer goods index closed flat.
As measured by market breadth, market sentiment was positive, as eight stocks gained, relative to 24 losers.
Honey well Flour Mills plc recorded the highest price gain of 10per cent, to close at N1.87 per share.
Wema bank plc followed with a gain 3.95 per cent to close at N0.79, while Flour Mills gained 3.96 per cent to close at N2.29, per share.
AIICO Insurance appreciated by 2.11 per cent to close at N0.97, while GTCO appreciated by 1.07 per cent to close at N28.40 kobo, per share.
Tripple G top the losers table to close at 0.88 after shedding 9.28.
Regal Insurance was also down by 8.51 per cent to close at 0.43 kobo, while Prestige Assurance lost 8.33per cent to close at 0.44, per share.
Japaul gold shed 7.48 per cent to close at 0.47 kobo, while NEM Insurance depreciated by 6.34 per cent to close at 1.92 kobo, respectively. The market turnover closes positive as volume moved up by 214.30per cent as against 61.77per cent downtick recorded in the previous session.
Honey flour mills was the most actively traded stock with about 384million units of shares worth about N654million.
