Investors in banking stocks lift capitalisation to N18bn
By Philemon Adedeji
Equities Market on the Nigerian Exchange Limited (NGX) extended gains for the second consecutive session as investors in banking stocks which are Guaranty Trust Holding Company (GTCO) (+2.44 per cent), First Bank Holding of Nigeria (FBNH) (+0.46 per cent) and Fidelity Bank (+1.35 per cent) outweighed losses in Zenith Bank (-0.20 per cent), United Capital (-2.46 per cent) and Wema Bank (-1.23 per cent) lifted capitalisation to N18 billion.
Respectively, the ASI year-to-date (YTD) rose to 7.19 per cent, while market capitalisation increased by N18 billion to close at N29.927 trillion from N29.909 trillion it closed for previous trading day.
The Nigerian Exchange Limited (NGX), All-Share Index inched weight by 31.43 basis points or 0.06 per cent stronger to close at 54,936.11 Index points from 54,904.68 Index points it closed for previous trading.
The upturn performance was impacted by gains recorded in medium and large capitalised stocks which are Guaranty Trust Holding Company, Wapic Insurance, Linkages Assurance and 11 others.
The breakdown of yesterday’s market performance indicated trade turnover settled lower relative to the previous session, with the value of transactions down by 16.15 per cent.
At the close of trade yesterday, trade volume increased by 5.0 per cent to close at 134,150,558 million share worth N1.330 billion were exchanged in 2,479 million deals.
Transnational Corporation led the volume chart with 28.12 million units while Guaranty Trust Holding Company (GTCO) (+2.44 per cent) led the value chart in deals worth N336.90 million.
The market sentiments as measured by market breadth closed negative as Guaranty Trust Holding Company (GTCO) topped 9 gainers, while NCR topped 14 decliners on the laggards log.
On the performance board, Guaranty Trust Holding Company (GTCO) and Wapic Insurance came as the highest price gainer which appreciated by 2.44 per cent each to close at N25.20 per share and 0.42 kobo respectively Linkages Assurance which followed rose by 2.22 per cent to close at 0.46 Kobo.
Lasaco Insurance which recorded as the last fourth gainer grew by 2.04 per cent to close at N1.00 per cent, while Transnational Corporation which recorded as the last fifth gainer went up by 1.56 per cent to close at N1.30 per share.
However, on the laggards log NCR came as the most price loser which shed 9.99 per cent to close at N2.81 per share, closely followed by FTNCOCOA Cocoa Processor which suffered 6.90 per cent to close at N0.27 per share, while Japaulgold which recorded as the last third loser went down by 6.67 per cent to close at N0.28 per share.
Cutix Plc lost 4.95 per cent to close at N2.11 per share, while Consolidated Hallmark Insurance Plc diminished by 4.62 per cent to close at N0. 62 per share.
Transaction in the shares of Transnational Corporation topped the activities chart with 28.122 million shares worth N35.922 million, United Bank of Africa (UBA) which followed exchanged 21.231 million shares valued at N170.415 million, while Courtville Business Solution traded 19.127 million shares valued at N8.608 million.
Guaranty Trust Holding Company transacted 13.551 million shares worth N336.904 million.
First Bank Holding Company exchanged 8.126 million shares valued at N88.997 million.
