Equities market increases slightly by 0.35%

By Philemon Adedeji

Equities market on the Nigerian Exchange Limited (NGX) which opened the week in good performance closed marginally on positive note for the second day of the week as,  All shares index gained 184.42 basis points.

The Nigerian All share index gained 184.42 basis points representing 0.35 per cent to close trade at 53,270.88 index points from 53,086.46 index points it closed trade on Monday.

Absolutely, market capitalisation valued increased further just a bit from  N96 billion gained on Monday to N99 billion gained on Tuesday to N28.718 trillion it close yesterday from N28.619 trillion it closed trade in the prior day.

Volume of trade diminished after trading yesterday by 69 per cent after investors as bought and sold 234.624 million shares it closed on Tuesday from 755.623 million shares it closed trade on Monday, valued by N2.745 billion and exchanged in 4,232 deals.

On the advancer side, Global Spectrum Energy service topped the advancers chart which appreciated by 10 per cent or 0.25 kobo increased to close trade by N2.75 per share, accompanied by Jaiz Bank which went up by 0.07 representing 7.95 per cent increased to close trade at N0.95 per share.

Japaulgold which recorded as the third best price gainer grew by 6.67 per cent or 0.02 kobo increased to close trade at N0.32 per share while Glaxosmith rose by 0.35 kobo to represent 5.11 per cent increased to close trade at N7.20 per share, and UACN which recorded as the last fifth gainer moved up by 4.55 per cent or 0.50 kobo increased to close trade at N11.20 per share

On the other hand, Cutix recorded as the highest price loser which declined by 10 per cent or 0.29 kobo to close trade at N2.61 per share, as Cadbury dropped by 1.05 kobo representing 5.93 per cent to close trade at N16.65 per share.

FTN cocoa and Wapic Insurance   depreciated by 0.02 kobo each representing 5.56 per cent and 4.76 per cent to close trade at N0.34 and N0.40 per share respectively and Honey flour decreased by 4.55 per cent or 0.15 kobo to close trade at N3.15 per share.

Transaction in the shares of Transcorp topped the volume chart with 30.433 million shares worth N37.213 million, United Bank of Africa followed which sold 25.800 million shares valued by N201.338 million.

Chams Plc  traded 20.524 million shares worth N4.928 million  while NGXGROUP transacted 18.531 million shares valued at N459.962 million and Fidelity bank accounted 17.509 million shares worth N59.352 million.

Transcorp led yesterday in terms of volume, while NGXGROUP led yesterday in terms of value.