By Philemon Adedeji
Trading activities on the Nigerian Exchange Limited (NGX) after three consecutive sessions of losses, closed on bullish sentiments yesterday as a result of gains recorded in Guaranty Trust Holding Company (GTCO) (+0.60 per cent), Nigerian Breweries (NB) (+1.10 per cent), and First Bank Holding of Nigeria (FBNH)(+1.46 per cent), drove the market’s recovery outweighing losses in Zenith Bank (-0.91 per cent), WAPCO (-0.21per cent), and ACCESS CORPORATION (-0.56 per cent).
Absolutely, the Nigerian Exchange Limited, All-Share Index (ASI) appreciated by 11.54 basis points or 0.02 per cent to close at 51,138.92 absolute points from 51,127. 38 absolute points it closed for previous trading day.
Consequently, the ASI’s year-to-date (YTD) return increased to 0.22 per cent, while the market capitalisation gained N2 billion to close at N27.852 trillion from N27.850 trillion it closed trade on Monday.
The breakdown of yesterday’s market activities revealed trade turnover closed higher relative to the previous session, with the value of transactions up by 220.17 per cent.
Transnational Corporation led the volume and value charts with 1.601 billion units traded in deals worth N3.091 billion.
The trade volume increased by 703.1 per cent to close at 1,819,959,168 million shares valued at N5.020 billion were exchanged in 4,669 deals.
The market sentiments as measured by market breadth closed on negative as numbers of gainers on the performance board equals number of losers on the losers chart.
According to analyst at Coronation Research, Global markets are becoming more stable, despite March’s shocks to the US and European banking system. Global market stability is good for Nigeria, both for its exports and for its ability to finance itself abroad.
On the positive side, Transnational Corporation emerged as the highest price gainer on the leaders chart with 9.73 per cent increased to close at N2.03 per share, closely followed by RTBRISCOE which appreciated by 9.09 per cent increased to close at N0.24 per share, while International Energy Insurance which recorded as the last third gainer rose by 7.50 per cent to close at N1.29 per share.
Nigerian Aviation Handling Company which recorded as the last fourth gainer grew by 5.45 per cent to close at N11.60 per share, while Africa Prudential which recorded as the last fifth gainer went up by 4.81 per cent to close at N5.45 per share.
However, on the Negative side, Vitafoam recorded as the most price loser which depreciated by 8.65 per cent to close at N16.90 per share , Linkages Assurance which followed went down by 8.33 per cent to close at N0.44 per share, while which recorded as the last third loser suffered 8.00 per cent to close at N0.23 per share.
Sovereign Insurance which recorded as the last fourth loser dipped by 6.90 per cent to close at N0.27 per share, while Courtville Business Solution which recorded as the last fifth loser dropped by 6.67 per cent to close at N0.42 per share.
Transaction in the shares of Transnational Corporation topped the activities chart with 1.601 billion shares worth N3.091 billion, LivingTrust Mortgage Bank which followed traded 69.973 million shares value at N205.053 million, while Fidelity Bank transacted 15.974 million shares value at N82.335 million.
Sterling Bank transacted 13.538 million shares worth N19.8888, while United Bank for Africa (UBA) exchanged 13.096 million shares worth N102.074 million.