Equities market recovers a-day loss amid gain in GTCO, Seplat Energy, others 

By Philemon Adedeji

Equities market recovered from the previous session’s loss, the domestic bourse posted gains as the benchmark All Share Index (ASI) rose by 109.46 basis points representing 0.17 per cent to close at 66,548.99 index points.

Gains in GTCO (+1.10 per cent), SEPLAT Energy (+9.95 per cent), and stanbic (+3.67 per cent) contributed to outweigh losses in Wapco Insurance (-0.17 per cent), Dangote sugar (-5.66 per cent), and INTERNATIONAL BREWERIES (-6.52 per cent), keeping the market in the green. Accordingly, the market is on track for a week of gain.

Respectively, the year-to-date (YTD) return rose to 29.85 per cent, while market capitalisation gained N59.91 billion to close at N36.42 trillion.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 7.83 per cent.

Sterling Bank (+0.60 per cent) led the volume chart with 160.99 million units traded while TRANSCORP (-3.80 per cent) led the value chart in deals worth N847.54 million.

The market upturn performance was impacted by price appreciation in medium and large capitalised stocks.

The trade volume decreased by 2.5 per cent to close at 620,982,315 million shares valued at N7.180 billion were exchanged in 7,972 deals.

On the leaders log, NGX GROUP led with 10.00 per cent to close at N26.40 per share, followed by Seplat Energy which rose by 9.95 per cent to close at N1837 per share, while Transexpr went up by 9.38 per cent to close at N1.05 per share, UPL which recorded as the last fourth gainer appreciated by 9.32 per cent to close at N2.58 per share, while ABCtrans which recorded as the last fifth gainer grew by 8.64 per cent to close at N0.88 per share.

However, Multiverse and Mining Evaporation led the laggards log with 10.00 per cent to close at N2.70 per share, Nascon Allied which followed lost 9.81 per cent to close at N50.55 per share, while Honey Flour dipped by 8.11 per cent to close at N3.40 per share.

Maybaker which recorded as the last fourth loser dropped by 7.27 per cent to close at N5.10 per share, while Jaiz Bank which emerged as the last fifth loser went down by 6.83 per cent to close at N1.50 per share.

Transaction in the shares of Sterling Bank topped the activities chart with 160.995 million shares worth N531.392 million, following closely by Transnational Corporation which transacted 135.695 million shares, while Fidelity Bank traded 576 million shares worth N403.333 million.

FTNCocoa processor sold 47.177 million shares value at N97.395 million.