NGX Index up 0.44%, amid gains in Buafoods, Dangote Sugar, Guinness Nigeria
By Philemon Adedeji
The Nigerian equities market continue for the second day of the week in an optimistic note, as bullish sentiment remained predominant. Consequently, the NGX All-Share Index (NGXASI) appreciated by 286.26 basis points or 0.44 per cent during the session, concluding at 65,488.67 basis points, a gain from the previous day of 65,202.42 basis points. The Sustained buying interest in BUAFOODS (+7.91 per cent), alongside DANGOTE SUGAR (+3.89 per cent), and GUINNESS Nigeria (+2.81 per cent) offset losses in ZENITH BANK (-0.44 per cent), GTCO (-0.14 per cent) and ACCESS CORPORATION (-1.17 per cent) is the key driver of market performance.
As a result, the year-to-date (YTD) return rose to 27.78 per cent, with the market capitalisation increasing by N157.58 billion.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 3.25 per cent.
The market upturned performance was impacted by price appreciation in medium and large capitalised stocks which are: Buafoods, Guinness Nigeria, Dangote Sugar, Cornerstone Insurance, Computer Warehouse Group, among others.
The trade volume increased by 26.7 per cent to close at 293,463, 083 million shares worth N4.122 billion were exchanged in 5,895 deals.
On the advancers table, Cornerstone Insurance led the advance chart with 9.84 per cent to close at N1.34 per share, closely followed by Computer Warehouse Group appreciated by 9.74 per cent to close at N4.28 per share, while SCOA rose by 9.38 per cent to close at N1.40 per share.
ABCtrans which recorded as the last fourth gainer grew by 8.33 per cent to close at N0.52 per share, while Buafoods which came as the last fifth gainer went up by 7.91 per cent to close at N165 per share.
On the other hand, Chellaram, Sunu Assurance, Nigerian Breweries led the losers chart with 10.00 per cent each increased to close at N3.96, N0.72, N38.25 per share.
Johnholt which recorded as the last fourth loser dipped by 8.81 per cent to close at N1.45 per share, while Mutual Benefit Assurance which emerged as the last fifth loser went down by 6.82 per cent to close at N0.41 per share.
Transaction in the shares of Transnational Corporation topped the activities chart with 41.441 million share worth 185.042 million, Access Corporation which followed exchanged 36.158 million shares valued at N616.420 million, while Fidelity Bank transacted 32.105 million shares worth N229.733 million.
Omatek Venture traded 15.006 million shares valued at N4.293 million, while Ecobank Transnational Incorporation sold 13.200 million shares value at N208.479 million.
