Equities market closes positive as investors gain 0.69%
By Philemon Adedeji
Trading activities on the Nigerian Exchange Limited (NGX) for the opening the week closed in green posture due to buy interests in index heavyweight Buafoods (+4.65 per cent), alongside Tier-1 banks, Zenith Bank (+0.78 per cent), Guaranty Trust Holding Company (GTCO), (+1.96 per cent) and Stanbic IBTC (+10.00 per cent) kept the market in the green.
The Nigerian Exchange Limited (NGX), All-Share Index (ASI), appreciated by 379.21 basis points or closed 0.69 per cent stronger to close at 55,328.42 absolute points from 54,949.21 absolute points it closed trade last week.
The upturn in price was due to price appreciation in medium and large capitalized stocks which are, Stanbic IBTC, Oando Plc, Zenith Bank, Cleansing and 14 others.
As a result, the year-to-date (YTD) return rose to 7.96 per cent, while market capitalization gained N206.58 billion to close at N30.14 trillion from N29.934 trillion it closed trade on Friday.
The breakdown of yesterday’s market activities revealed that trade turnover settled lower relative to the previous session, with the value of transactions down by 38.84 per cent.
The trade volume Increased to 149,780,851 million share valued at N1.542 billion were exchanged in 3,186 deals.
OANDO led the volume chart with 626.403 million units traded while Zenith Bank led the value chart in deals worth N205.55 million.
The market sentiments as measured by market breadth closed positive as STANBIC IBTC topped 18 others on the leader’s log while FTNCOCOA Processor led 8 others on the laggard’s table.
On the leaders log, Stanbic IBTC, Oando Plc, Cleansing came as the most price gainer which grew significantly by 10.00 per cent each increased to close at N37.95, N4.40, N3.63 per share respectively.
Conoil which recorded as the last fourth gainer appreciated by 9.98 per cent to close at N46.85 per share.
MRS Oil which recorded as the last fifth gainer went up by 9.66 per cent to close at N33.50 per share.
On the decliners log, FTNCOCOA Processor which recorded as the highest best loser depreciated by 6.90 per cent to close at N0.27 per share, followed by UPDC which lost 4.00 per cent to close at N0.96 per share, while Japaulgold which recorded as the last third loser dropped by 3.45 per cent to close at N0.28 per share.
Transnational Corporation which followed shed 3.08 per cent to close at N1.26 per share.
Mutual Benefit Assurance which recorded as the last fifth loser declined by 3.03 per cent to close at N0.32 per share.
Transaction in the shares of Oando Plc topped the activities chart with 14.287 million shares worth N626.403 million, Transnational Corporation which followed traded 11.716 million shares worth N14.734 million, while Fidelity Bank transacted 10.733 million shares valued at N53.748 million.
Chams transacted 10.293 million shares valued at N2.858 million.
United Bank of Africa traded 9.109 million shares worth N77.143 million.
