Equities market rises by 1.06%

By Philemon Adedeji

Equities market on the Nigerian Exchange Limited (NGX) continues on upward trend yesterday due to turn up in some stocks like IMG, Champion breweries, Transcorp and others. This caused market to closed on positive note as All share index appreciated by 559.91 basis points or 1.06 per cent

The Nigerian Exchange Limited (NGX) All Share index (ASI) and market capitalisation increased marginally to 53,151.32 basis points and N28.654 trillion respectively, from 52591.41 basis points and N28.352 trillion it closed trade for preceding day.

Absolutely, market capitalisation value gained N302 billion yesterday.

Volume of trade declined yesterday by 30 per cent from 382.455 million units to 266.184 million units, valued by N5.115 billion and exchanged in 5,501 deals.

At the close of marketing activities yesterday, IMG came as the most gainer which gained 10 per cent or 1.00 kobo increased to close trade at N11.00 per share, Champion Breweries which which increased from N3.42 to N3.76, gaining 0.34 kobo to represent 9.94 per cent.

Linkage Assurance appreciated by 0.05 kobo representing 9.09 per cent increased to close trade at N0.60 per share, while Livestock grew by 7.35 or 0.10 kobo increased to close trade at N1.46 per share and Wapco which recorded as the last fifth gainer rose by 1.65 kobo or 6.23 per cent increased to close trade at N28.15 per cent.

On the other hand, NPFMCRFBK was recorded as the highest decliner at the close of marketing activities yesterday, which dropped by 0.20 kobo or 9.90 per cent to close trade at N1.82 per share, UACN accompanied by loosing 9.96 per cent or 1.25 kobo to close at N11.65 per share.

Academy press was recorded as the third best loser which dipped by 0.14 kobo or 9.59 per cent to close trade at N1.32 per share, LEARNAFRICA down by 8.89 per cent or 0.20 kobo to close trade at N2.05 per share and Royalex Exchange which decreased from N1.14 to N1.04 , losing 0.06 kobo or 5.26 per share.

At the close of trade yesterday, Transaction in the share of Transcorp led the volume chart which transacted 47.651 million share valued at 60.106 million, Accesscorp traded 25.315 million share worth 248.301 million.

Guaranty Trust Holding Company traded 20.652 million share worth 481.108 million, as Jaizbank transacted 16.389 million share valued at 13.185 million and Univinsure transacted 16.320 million share worth 3.265 million.

Yesterday transaction indicated that Transcorp plc led in terms of volume while Guaranty Trust Holding Company led in terms of value.