Investors in stock market gain 0.23%, amid bullish sentiments

By Philemon Adedeji

Equities market on the Nigerian Exchange Limited (NGX)  closed bullish after yesterday’s pullback as the benchmark All-Share Index (ASI) inched weight by 127.29 basis points or 0.23 per cent to close at 54,427.05 points from 54,299.76 absolute points it closed on Tuesday.

Gains in industrial heavyweight, Dangote Cement (+1.89 per cent) alongside Zenith Bank  (+0.80 per cent) pushed the broader index into positive territory.

Respectively, the year-to-date (YTD) return rose to 6.20 per cent while market capitalisation gained N69.33 billion to close at N29.64 trillion from N29.575 trillion it closed for the previous trading day.

The price appreciation is impacted by gains recorded in medium and large capitalised stocks which are Dangote Cement, Zenith Bank, Triple G and seven others.

Yesterday’s market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 76.25 per cent.

The trade volume declined by 24.2 per cent to close at 151,583,263 million shares valued at N1.810 billion were exchanged in 2,974 deals.

TRANSCORP led the volume chart with 18.68 million units traded, while Guaranty Trust Holding Company led the value chart in deals worth N427.74 billion.

As measured by market breadth, market sentiments closed negative as Triple G led 11 gainers on the performance board, while Transexpr led 23 loser on the decliners’ log.

On the leaders’ log, Triple G led as the highest price gainer with 9.52 per cent to close at N1.15 per share, closely followed by International Energy Insurance which appreciated by 9.40 per cent to close at N1.28 per share, while Japaulgold which recorded as the highest price gainer rose by 3.45 per cent to close at N0.30 per cent.

Mansard Insurance went up by 2.50 per cent to close at N2.05 per share.

Africa Prudential which recorded as the last fifth gainer grew by 2.46 per cent to close at N6.25 per share.

However, on the laggards log, Transexpr topped the losers with 9.76 per cent to close at N0.74 per share, followed by Transcorp Plc which dipped by 7.35 per cent to close at N1.26 per share, while Courtville Business Solution shed 6.00 per cent to close at N0.47 per share.

Prestige Assurance which recorded as the last fourth loser went down by 4.76 per cent to close at N0.40 per share.

UPDC Real Estate Investment which recorded as the last fifth loser dropped by 4.41 per cent to close at N0.40 per share.

Transaction in the shares of UNIVINSURE topped the activities chart with 20.035 million shares value at N4.007 million, closely followed by Transcorp which traded 18.684 million shares worth N24.619 million, while Guaranty Trust Holding Company transacted 17.028 million shares worth N42.773 million.

Sterling Bank accounted 15.625 million shares valued at N23.902 million.

United Bank of Africa accounted 7.739 million shares worth N64.688 million.