NGX investors gain N53bn amid bullish sentiments
By Philemon Adedeji
Amid bullish sentiments transaction on the platform of Nigerian Exchange Limited (NGX), for the opening week, remained positive as the investors gained N53 billion driven by stocks like Buafoods (+2.52 per cent), alongside Tier-1 banks, GTCO (+3.35 per cent), Accesscorp (+1.18 per cent), UBA (+0.68 per cent) outweighed losses in Zenith Bank (-0.41 per cent) and FBNH (-0.46 per cnt) to keep the market in the green.
Specifically, the Nigerian All-Share Index (ASI) closed by 98.67 basis points representing 0.20 per cent to close at 49,414.96 Index points from 49,316.29 Index points it closed for last trading day.
Consequently, the year-to-date (YTD) return grew to 15.64 per cent, while market capitalisation value appreciated by N53 billion to close at N26.914 trillion from N26.861 trillion it closed for previous trading day.
The positive performance was driven by gains recorded in Buafoods, Accesscorp, Thomaswy and others.
Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 36.57 per cent.
The total trade volume declined by 26 per cent to close at 76,748,829 million shares valued at N1.325 billion were exchanged in 3,262 deals. GTCO led the volume and value charts with 16.606 million units traded in deals worth N352.214 million.
As measured by market breadth, market sentiments closed positive as Thomaswy watt led 14 gainers versus PZ Cussion that led 10 losers.
On the performance table, Thomaswy led as the highest price gainer with rose from N0.57 to N0.62, up by 0.05 Kobo or 8.77 per cent, followed by International Breweries which grew by 5.81 per cent to close at N4.55 per share while Pharmadeko appreciated by 5.00 per cent to close at N2.10 per share.
Living Trust which recorded as the last fourth gainer went up by 4.90 per cent to close at N1.50 per share and Caverton Offshore which recorded as the last fifth gainer grew by 3.45 per cent to close at N0.90 per share.
However, PZ Cussion came as the highest price loser which dipped by 7.26 per cent to close at N11.50 per share Followed by Chams Plc which lost 4.35 per cent to close at N0.22 per share, while Updcreit went down by 3.34 per cent to close at N2.90 per share.
FTNCOCOA processor diminished by 2.73 per cent to close at N0.30 per share and Africa Prudential which recorded as the last fifth gainer depreciated by 2.33 per cent to close at N56.35 per share.
Transaction in the shares of Guaranty Trust Holding Company topped the activities chart with 16.606 million shares worth N352.214 million, United Bank of Africa traded 7.588 million shares valued at N55.943 million, while Chams transacted 4.152 million shares worth N9.14 million.
Consolidated Hallmark Insurance accounted 4.000 million shares valued at N2.440 million.
Zenith Bank sold 3.776 million shares worth N90.675 million.
