Market capitalisation advances further by N41bn on Friday

By Philemon Adedeji

Trading activities on the Nigerian Exchange Limited (NGX) turned positive on Friday the last trading day, as the key market indicator advanced by 90.54 basis points amid flat market breadth.

The NGX All-Share Index advanced by 0.19 per cent to close at 47,351.43 basis points as against 3.23 per cent loss recorded previously to close at 47,260.89 basis points at the end of the last trading session. Absolutely Market Capitalisation value gained N41.31 billion.

The total volume traded declined by 2.41 per cent to close at 137.28 million, valued at N1.71billion and exchanged in 3,845 deals. GTCO was the most traded stock by volume with 33.79 million units traded while GTCO was also the most traded stock by value which is put at N573.80million.

Sectoral performance was broadly positive as 12 NGX sector index closed northward, two closed southward while four closed flat. The NGX MERIVAL inched up by 1.20 per cent to top the gainers chart while the Insurance Index dipped by 1.47 per cent to top the losers’ chart.

At the close of trade on Friday the last trading day, the market sentiment as measured by market breadth was positive as 13 stocks constituted the gainers while 13 stocks constituted the losers.

Thus, market breadth closed flat as the Market Breadth Index (MBI) is put at 0.00x.

At the close of week on Friday, FTNcocoa processor led the gainers with 7.14 per cent to close at N0.30 per share, followed by International Breweries which appreciated by 5.56 per cent to close at N4.75 per share while Sovereign Insurance which recorded as the last third gainer up by 4 per cent to close at N0.26 per share.

Sterling Bank which recorded as the last fourth gainer grew by 3.33 per cent to close at N1.55 per share and United bank of Africa rose by 3.05 per cent to close at N6.75 per share.

On the other hand, May and Baker led the losers chart with 9.78 per cent to close at N3.69 per share, followed by Nascon which recorded as the second best loser dipped by 9.52 per cent to close at N9.50 per share while Academy Press down by 9.37 per cent to close at N1.45 per share.

Wapic Insurance depreciated by 8.57 per cent to close at N0.32 per share and Updcreit which recorded as the last fifth loser dropped by 8.20 per cent to close at N2.80 per share.

Transaction in the share of Guaranty Trust Holding Company topped the activities chart with 33.788 million share valued at N573.800million, followed by Oando plc which traded 14.448 million shares worth N83.650 million while Transcorp plc transacted 13.520 million shares valued at N14.084 million.

Zenith Bank accounted 7.427 million shares worth N144.576 million and Chams plc traded 6.990 million shares valued at N1.883 million.

FTNCOCOA topped the list of gainers while MAYBAKER topped the list of losers.

GTCO led the volume’s chart with 24.61 per cent contribution and closely followed by OANDO and TRANSCORP.