Equities market closes flat, amid gain in Tier-1 bank investors
Yesterday, trading activities at the Nigerian Exchange Limited (NGX) ended mixed with a bearish tilt as the benchmark All Share Index (ASI) decreased by 13.79 basis points or 0.02 per cent to close at 55,806.71 absolute points or 55,820.50 absolute points. Gains in Access Corporation (+1.21 per cent), United Bank for Africa (UBA) (+1.07 per cent) and Union Bank of Nigeria (UBN) (+9.72 per cent) were offset by losses in Zenith Bank (-2.27 per cent), Geregu Power (-0.61 per cent) and Guaranty Trust Holding Company, (GTCO) (-0.88 per cent).
Respectively, the ASI’s year-to-date (YTD) return fell to 8.89 per cent, while the market capitalization value shed N7.51 billion to close at N30.39 trillion.
The upturn performance was impacted by gains recorded in medium and large capitalized stocks which are: NEM insurance, Omatek, Conoil, Access Corporation and others.
Analysis of yesterday’s market activities revealed trade turnover settled higher relative to the previous session, with the value of transactions up by 224.33 per cent.
The trade volume increased to 369,779,627 million shares valued at N19.84 billion were exchanged in 7,221 deals.
Geregu Power led volume and value charts with 52.49 million units traded in deals worth N16.37 billion.
The market sentiments as measured by market breadth closed flat as 26 stocks constituted the gainers led by NEM Insurance while 27 stocks constituted the losers led by Johnholts.
On the leaders log, NEM Insurance and Omatek led the gainers chart with 10.00 appreciation each increased to at N5.50 and N0.22 per share respectively, Conoil Plc and MRS Oil rose by 9.94 per cent each increased by N76.85 and N54.20 per share respectively.
Eternal Oil Plc, which recorded as the last fifth gainer grew 9.73 per cent to close N10.15 per share.
On the losers table, Johnholt emerged as the highest price loser depreciated by 9.95 per cent to close at N1.72 per share, Courtville Business Solution which followed suffered 9.80 per cent loss to close at N0.46 per share, while Chams plc shed 9.76 per cent to close at N0.37 per share.
Wapic Insurance which recorded as the last fourth loser went down by 8.70 per cent to close at N0.42 per share, while Academy Press which recorded as the last fifth loser dropped by 7.89 per cent to close at N1.75 per share.
Transaction in the shares of Geregu Power topped the activities chart with 52.491 million shares worth 16.365 trillion, followed by NPF Microfinance Bank transacted 50.023 million shares valued at 90.041 million, while Access Corporation exchanged 46.234 million shares valued at 573.551 million.
Zenith Bank traded 28.745 million shares valued at N800.619 million.
United Bank for Africa (UBA) sold 16.246 million shares worth N151.743 million.
