FBNH, UPL, others halt negative performance of stock market
By Philemon Adedeji
Equities market on the Nigerian exchange limited (NGX) which closed on negative for two consecutive trading session as at opening of this week closed on appreciation yesterday after the transaction of some stocks like FBNH, UPL and others
Similarly, the All-Share Index appreciated by 15.11 basis points representing 0.03 per cent to close trade at 51,817.59 basis points from 52,802.48 basis points it closed trade on previous trading day,
The market sentiments as measured by market breadth closed positive as 20 stocks dominated the gainers as against 18 stocks that dominated the losers
Since this year began stock market as advanced 4,924.13 base points
Similarly, the overall market capitalisation value gained N8 billion to close at N27.935 trillion from N29.927 trillion it closed last trading day.
Trade volume declined by 46.4 per cent as the investors bought and sold 223,111,139 million shares from 416,469,572 million shares valued by N3.873 billion exchanged in 4,213 deals
On the advancers table, UPL emerged as the highest price gainer after transaction in yesterday trading which gained 9.79 per cent to close trade at N2.58 per share, as Mcnichols followed as the second best gainer which rose by 0.18 kobo or 9.73 per cent, while Cornest, Chiplc, Johnholts grew by 0.06 kobo each increased to close trade at 9.09 per cent, 8.96 per cent, 8.70 per cent respectively.
On the losers chart, PZ Cussion was recorded as the overall loser which dipped by 9.86 per cent or 1.05 kobo to close trade at N9.60 per share, Tripped G that followed dropped by 0.08 kobo to close trade at N0.87 per share as Prestige Assurance depreciated by 0.03 kobo to close trade at N0.37 per share.
Honey Flour which recorded as the last fourth loser declined by 7.07 per cent to close trade at N2.76 per share and Rt.briscoe which recorded as the last fifth decliner lost 6.38 per cent to close trade at N0.44 per share
On the volume chart, transaction in the share of First Bank Holding of Nigeria led the chart with 36.633 million shares worth N424.130 million, Transcorp traded 26.471 million shares valued at N32.546 million, as United Bank of Africa transacted 17.504 million shares worth N130.456 million.
Guaranty Trust Holdingss Company accounted 15.162 million shares valued at N310.139 million and Zenith Bank sold 14.073 million shares worth N305.106 million.
In yesterday’s trading, First Bank Holding of Nigeria recorded ad the highest in both volume and value.
