Equities market opens New Year on high note up, 0.67%

By Philemon Adedeji

Equities market on the Nigerian Exchange Limited (NGX) opened New Year on a positive note to continue from what it closed Last year, as All-Share Share (ASI) appreciated by 344.6 basis points to represent 0.67 per cent to close at 51,595.66 Index points from 51,251.06 Index points.

The positive performance was driven primarily by gains in index heavyweight Buafoods (+10.00 per cent) alongside Tier-1 banking names, GTCO (+1.09 per cent), FBNH (+3.21 per c ent), and ACCESSCORP (+3.53 per cent). As a result, year-to-date (YTD) return stood at 0.67 per cent while market capitalization gained N187.90 billion to close at N28.10 2 trillion.

Yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 40.86 per cent .

The market positive return, Year-to-date printed higher at 20.79 per cent. In 4,122 deals, Investors exchanged 321,674,780 million share worth worth 4.349 billion

The price appreciation was impacted by medium and large capitalized stocks amongst are, Buafoods, Johnholts, Prestige Assurance and 20 others.

FBNH (+3.21 per cent) led the volume chart and value chart with 207.62 million units traded in deals worth N2.47 billion.

As measured by market breadth, Market sentiments closed positive as Buafoods  led 23 gainers, while Chellaram led 11 losers on the laggards table.

On the performance table, Buafoods emerged as the highest price gainer with 10.00 per cent to close at N71.50 per share, Followed by Johnholts which appreciated by 9.59 per cent to close at N0.80 per share, while Prestige Assurance rose significantly by 9.52 per cent to close at N0.46 per share.

Nigerian Aviation Handling Company which recorded as the last fourth gainer went up by 9.37 per cent to close at N7.00 per share.

United Bank of Africa which recorded as the last fifth gainer rose by 9.21 per cent to close at N8.30 per share.

On the Laggards table, Chellaram emerged as the highest price loser with 9.82 per cent to close at N2.02 per share, Computer Warehouse Group which followed lost 8.91 to close at N0.92 per share, while First City Monument Bank dipped by 8.83 per cent to close at N3.51 per share.

Honey flour which recorded as the last fourth depreciated by 5.98 per cent to close at N2.20 per share and Japaulgold which recorded as the last fifth loser dropped by 3.57 per cent to close at N0.27 per share.

First Bank Holding of Nigeria topped the activities chart with 207.615 million share worth 2.474 billion, Guaranty Trust Holding Company which followed transacted 13.756 million share valued at 3.182 million, while AIICO Insurance traded 12.241 million valued at 7.675 million.

United Bank of Africa transacted 8.150 million share worth 64.587 million.

Accesscorp accounted 6.746 million share valued at 58.911 million.