FBNH, Wapco Insurance, others halt negative performance of stock market, gaining N40bn
By Philemon Adedeji
Trading activities on the Nigerian Exchange Limited (NGX) closed in upbeat driven by Investor interests in First Bank Holdings of Nigeria (FBNH) (+1.12 per cent), WAPCO Insurance (+4.32 per cent) and Nigerian Breweries (NB)(+2.70 per cent) outweighed losses in BUAFOODS (-2.03 per cent), ACCESS CORPORATION (-0.30 per cent) and United Bank for Africa (UBA) (-2.15 per cent) keeping the market in the green.
Respectively, the NGX All Share Index (ASI) rose by 75.1 basis points representing 0.12 per cent to close at 64,267.36 Index points from 64,192.20 Index points it closed for previous trading day
As a result, the year-to-date (YTD) return grew to 25.40 per cent, with market capitalisation gaining N40.90 billion to close at N34.973 trillion from N34.932 trillion it closed trade on Tuesday.
Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 44.62 per cent.
The market upturn performance was impacted by price appreciation in medium and large capitalised stocks which includes, Abbeybds, Chams Holdings, First Bank Holdings of Nigeria (FBNH), Skyway Aviation among others.
The trade volume increase to 330.78 million shares valued at N4.27 billion were exchanged in 6,251 deals.
TRANSNATIONAL CORPORATION (+3.14 per cent) led the volume chart with 58.83 million units traded while FBNH (+1.12 per cent) led the value chart in deals worth N502.76 million.
As measured by Market breadth, market sentiment closed positive as 31 stocks recorded on the price gainer table, while 26 stocks recorded on the price losers table.
On the price appreciation table, three stocks which are Abbeybds, Chams Holdings, Nascon Allied, came with 10.00 per cent each increased to close at N1.21, N0.99, N35.75 per share respectively.
Skyway Aviation which recorded as the last fourth gainers rose by 9.96 per cent to close at N28.15 per share.
Dangote Sugar which emerged as the last fifth gainer appreciated by 9.93 per cent to close at N32.65 per share.
On the laggards logs, Omatek Venture led with 9.76 per cent loss to close at N0.37 per share, followed by Johnholt which depreciated by 9.44 per cent to close at N1.63 per share, while Mutual Benefit Assurance dipped by 9.43 per cent to close at N0.48 per share.
Daar Communication which recorded as the last fourth loser went down by N0.30 per share, while RT.Briscoe which recorded as the last fifth loser dropped by 8.93 per cent to close at N0.51 per share.
Transaction in the shares of Transnational Corporation topped the activities chart with 58.829 million shares worth N209.186 million, First Bank Holdings of Nigeria which followed traded 27.951 million shares valued at N502.759 million, while Ecobank Transnational Corporation transacted 21.303 million shares valued at N330.246 million.
Access Corporation traded 20.697 million shares valued at N341.783 million.
Cham Holdings sold 16.904 million shares worth N16.135 million.
