Gains in Buafoods, MRS oil, 18 others drive capitalisation to N180bn

By Philemon Adedeji

Trading activities on the Nigerian Exchange Limited (NGX) yesterday closed in green posture as the equities bourse moved higher as the benchmark All-Share Index (ASI) increased further by 330.85 basis points to represent 0.61 per cent to close at 54,646.38 Index points from 54,315.53 index points it closed for previous trading.

Gains in BUAFOODS (+8.87 per cent), WAPCO insurance (+1.18 per cent) as well as Tier-1 banking names, ZENITH BANK (+0.60 per cent), Guaranty Trust Holding Company (+-0.40 per cent) and First Bank Holding Company (FBNH) (+0.43 per cent) drove the market’s overall performance. The gain puts the index on track for a weekly gain.

The year-to-date (YTD) return grew to 6.62 per cent, while market capitalisation gained N180 billion to close at N29.768 trillion from 29.588 trillion it closed trade on Wednesday.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 52.92 per cent.

The trade volume increased by 9.3 per cent to close at 142,036,608 million units worth N1.846 billion were exchanged in 2,651 deals.

United Bank of Africa (UBA) led the volume chart with 32.42 million units traded  while ZENITH BANK led the value chart in deals worth N11.53 million.

Market breadth closed positive as MRS Oil Buafoods topped twenty others on the leader’s log while Tip led five others on the decliners logs.

On the leaders table, MRS OIL led the gainers with 9.88 per cent increased to close trade at N27.80 per share, Mcnichols which followed appreciated by 9.09 per cent to close at N0.60 per share, while Buafoods rose significantly by 8.87 per cent increased to close at N81. 00 per share.

Cornerstone Insurance which recorded as the last fourth gainer went up by 8.33 per cent to close at N0.65 per share.

Transcohot which recorded as the last fifth gainer appreciated by 7.44 per cent increased to close at N6.50 per share.

However, on the losers table, Tip emerged as the highest price loser which depreciated by 9.09 per cent to close at N0.40 per share, Neimeth Pharmaceutical Industry which follow went down by 6.45 per cent to close at N1.45 per share, Consolidated Hallmark Insurance which recorded as the last third loser dipped by 6.15 per cent to close at N0.61 per share.

Veritaskap Insurance dropped by 4.76 per cent to close at N0.20 per share.

AIICO Insurance which recorded as the last fifth loser shed 1.67 per cent to close at N0.59 per share.

Transaction in the shares of United Bank of Africa topped the activities chart with 32.420 million shares value at N272.123 million, Courtville Business Solution which followed transacted 15.975 million shares worth N7.638 million, While Zenith Bank accounted accounted 11.525 million shares value at N292.131 million.

Guaranty Trust Holding Company traded 8.619 million shares valued at N217.946 million.

Chams Plc transacted 6.722 million shares worth N1.742 million.

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