Equities market appreciates by N41bn to sustain investors’ positive sentiment
By Kayode Tokede
The equities market of the Nigerian Exchange Limited (NGX) on Thursday appreciated by N41billion to sustained investors’ positive sentiment.
The market’s upturn was as a result of investors’ buy interest in mainly consumer goods and industrial sectors.
The NGX All Share Index (ASI) increased by 78.79 basis points, representing a growth of 0.19 per cent to close at 41,129.98 points. Similarly, the market capitalisation gained N41 billion to close at N21.432 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Seplat Energy, FBN Holdings (FBNH), Stanbic IBTC Holding, Lafarge Africa and Nigerian Breweries.
Also, market breath closed positive, recording 21 gainers and 14 losers. Champion Breweries recorded the highest price gain of 9.71 per cent to close at N3.05, per share. Africa Prudential followed with a gain 7.81 per cent to close at N6.90, while FBNH appreciated by 7.31 per cent to close at N11.75, per share.
Universal Insurance went up by 4.76 per cent to close at 22 kobo, while Chams appreciated by 4.35 per cent to close at 24 kobo, per share. On the other hand, learn Africa led the losers’ chart by 10 per cent to close at N1.26, per share. Ecobank Transnational Incorporated (ETI) followed with a decline of 8.16 per cent to close at N6.75, while Wapic Insurance lost six per cent to close at 47 kobo, per share.
Linkage Assurance shed five per cent to close at 57 kobo, while NEM Insurance depreciated by 4.46 per cent to close at N1.93, per share.
The total volume traded increased by 61.04 per cent to 908.059 million shares, worth N10.971 billion, and traded in 5,151 deals. Transactions in the shares of FBNH topped the activity chart with 602.769 million shares valued at N7.112 billion. Guaranty Trust Holding Company (GTCO) followed with 63.749 million shares worth N1.811 billion, while Champion Breweries traded 37.684 million shares valued at N114.842 million.
Universal Insurance traded 21.910 million shares valued at N4.568 million, while United Bank for Africa (UBA) transacted 21.174 million shares worth N176.701 million.
Analysts at Afrinvest Limited said, “We expect the bullish performance to be sustained in the next trading session, driven by improved investor sentiment in anticipation of third quarter (Q3) earnings releases.”
