Gains in MTNN, Wapco, 15 others lift capitalisation to N71bn

By Philemon Adedeji

Equities market on the Nigerian Exchange Limited  (NGX) extended the bullish run to close on a positive note as the gains in MTNN (+1.49 per cent) lifted market capitalisation to N71.70 billion.

Also, WAPCO Insurance (+0.77 per cent) and Access Corporation (+1.09 per cent), were the main drivers of the market’s overall performance.

Similarly, NGX All-Share appreciated by 131.64 basis points or 0.24 per cent to close at 54,496.31 Index points from 54,364.67 Index points it closed trade on Monday.

As a result, the year-to-date (YTD) return rose to 6.33 per cent, while the market capitalization value rose by N71.70 billion to close at N29.682 trillion.

Analysis of yesterday’s market activities revealed that trade turnover settled higher relative to the previous session, with the value of transactions up by 80.23 per cent.

Buafoods led the volume and value charts with 50.00 million shares traded in deals worth N3.72 billion.

The market sentiments as measured by market breadth closed negative as 17 stocks dominated the gainers on the performance chart, while 19 stocks dominated the losers on the laggard’s table.

Yesterday, the total trade volume increased by 26.3 per cent to close at 177,924,234 million share worth N5.693 billion were exchanged in 3,617 deals.

On the performance board, Triple G led as the highest price loser which gained 9.49 per. cent to close at N1.50 per share, closely followed by Courtville Business Solution rose significantly by 8.33 per cent to close at N0.52 per share, while Chams plc grew by 7.41 per cent to close at N0.29 per share.

Guinness Nigeria which recorded as the last fourth gainer went up by 6.35 per cent to close at N67. 00 per share, while Prestige Assurance which recorded as the last fifth gainer appreciated by 5.00 per cent to close at N0. 42 per share.

However, International Energy Insurance which came as the highest price loser depreciated by 6.20 per cent to close at N1.21 per share, closely followed by Livestocks which lost 5.45 per cent to close at N1.04 per share, while Unity Bank which recorded as the last third loser dipped by 3.77 per cent to close at N0.51 per share.

Fidson Healthcare which recorded as the last fourth loser shed 3.75 per cent to close at N9. 50 per share.

Transcorp Plc which recorded as the last fifth loser went down by 3.10 per share to close at N1.25 per share.

Transaction in the shares of Buafoods topped the activities chart with 50.009 million shares value at N3.720 million, followed by United Bank of Africa which transacted 25.726 million shares value at N214.874 million, while Access Corporation accounted 11.373 million shares worth N104.666 million.

Sterling Bank traded 8.300 million shares worth N12.736 million.

Computer Warehouse Group traded 6.000 million shares value at N4.933 million.