Etranzact, Ardova, others halts negative performance of stock market

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By Philemon Adedeji

Nigerian Equities Market cleared previous day loss to close in the green zone as the key market indicator went up by 52.52 basis points.

The NGX All-Share Index increased up by 0.11 per cent to close at 49,652.25 basis points as against 0.09 per cent loss recorded previously to close at 49,599.73 basis points at the end of the last trading session. Absolutely, the market capitalisation value gained N28.33 billion to close at N26.781 trillion.

The total volume traded advanced by 25.55 per cent to close at 161.88 million units worth  N1.63 billion and exchanged in 3,541deals.

TRANSCORP was the most traded stock by volume with 30.97 million traded while MTNN was the most traded stock by value which is put at N692.20 million.

Sectoral performance was broadly positive as thirteen (13) NGX sector index closed northward, two  closed southward while three  closed flat. The NGX MERIVAL Index inched up by 1.24 per cent to top the gainers chart while the NGX Consumer Goods Index dipped by 0.15 per cent to top the losers’ chart.

At the close of trade on Thursday,  20 stocks were recorded as the gainers as against 9 stocks that declined.

ETRANZACT topped the list of gainers with 9.81 per cent increased to close at N2.91 per share, as Ardova grew by 8.94 per cent to close at N13.40 per share while Chams rose by 7.41 per cent to close at N0.29 per share

FTNcocoa processor and Union Bank of Nigeria gained 7.14 per cent each to close at N0.30 and N6 per share while VITAFOAM topped the list of losers with 9.96 per cent to close at N21.25 per share, as followed by Multiverse and Mining Exploration dropped 9.92 per cent to close at N2.35 per share while Champion breweries declined by 4.16 per cent to close at N3.69 per share

Afripud depreciated by 3.51 per cent to close at N5.50 per share and Honey flour dipped by 3.51 per cent to close at N2.50 per cent

Transaction in the share of Transcorp topped the activities chart with 30.967 million share worth 34.444 million, followed by Fidelity bank which traded 28.707 million share valued at 101.715 million while Sterling bank transacted 19.815 million share worth 29.117 million

First City Monument Bank accounted 11.506 million share valued at 37.950 million and United bank of Africa traded 9.404 million share worth 67.840 million

Thus, market breadth closed positive as the Market Breadth Index (MBI) is put at 0.17x.

MTNN tops the value’s chart with 41.50 per cent contribution and closely followed by Zenithbank and Fidelity bank