Bullish takes over as investors wealth rises by N94bn
By Philemon Adedeji
At the Nigerian Exchange Limited (NGX), the domestic stock market concluded yesterday’s trading session with a bullish sentiment prevailing over the bullish momentum, as a result, the NGX All-Share Index (NGXASI) experienced a marginal increase of 173.49 basis point or 0.27 per cent, settling at 63,930.72 index points compared to its previous session’s closing level of 63,757.23 index points.
The day’s bullish performance was driven by notable gain in major stocks in ZENITH BANK (+0.16 per cent), GEREGU Power (+5.71 per cent), and Guaranty Trust Holding Company (GTCO) (+0.57 per cent) pushed the broader index into positive territory. Accordingly, the market remains on for a week of gain.
Consequently, the year-to-date (YTD) return rose to 24.74 per cent, while market capitalisation gained N94.46 billion to close at N34.810 trillion from N34.716 trillion it closed trade on Wednesday.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 79.21 per cent
United Bank for Africa (UBA) (+2.65 per cent) led the volume and value charts with 961.50 million units traded in deals worth N13.31 billion.
The market sentiment closed positive as 43 stocks recorded on the gainers chart as against 21 stocks which recorded on the losers chart
The trade volume increase by 187 per cent to close at 1,358,946,966 million shares valued at N18.066 billion were exchanged in 7,179 deals
On the price appreciation table, UPL topped with 10.00 per cent to close at N2.42 per share, EUNSELL which followed grew by 9.97 per cent to close at N3.20 per share, while Academy Press appreciated by 9.95 per cent to close at N2.43 per share Chellaram which recorded as the last fourth gainer rose by 9.91 per cent to close at N2.33 per share, while Ikeja Hotel which recorded as the last fifth gainer went up by 9.38 per cent to close at N2.80 per share.
However, on the decliners log, Courtville Business Solution led with 9.86 per cent to close at N0.64 per share, followed by FTNcocoa processor which suffered 9.66 per cent loss to close at N1.87 per share, while AbbeyBDS lost 9.49 per cent to close at N1.24 per share. Maybaker which recorded as the last fourth loser went down by 9.17 per cent to close at N5.45 per share.
UPDC which recorded as the last fifth loser dropped by 8.55 per cent to close at N1.07 per share.
Transaction in the shares of United Bank for Africa topped the activities chart with 961.501 million shares valued at N13.306 trillion, followed by Sterling Bank which traded 43.662 million shares worth N158.992 per share, while First Bank holdings transacted 40.316 million shares valued at N720.053 million.
Japaulgold exchanged 35.954 million shares valued at N28.040 million, while Univinsure transacted 35.089 million shares valued at N8.266 million.
