Market capitalisation gains N107bn driven by investors’ interest in Dangote Cement, MTN, 16 others
By Philemon Adedeji
Trading activities of the stock market on the Nigerian Exchange Limited (NGX), closed on green posture after trading caused by increase in investor interest in Dangote Cement and MTNN which offset the selloffs in Wapco Insurance and First Bank Holding of Nigeria (FBNH).
Specifically, the NGX All-Share Index (ASI) appreciated by 0.35 per cent to close at 55,801.14 basis points from 56,603.94 basis points.
Consequently, the year-to-date (YTD) rose to 8.88 per cent, while the market capitalisation value inched weight by N107.43 billion to close at N30.40 trillion.
The upturn in price is impacted by price appreciation in medium and large capitalised stocks which are Dangote Cement, MTNN, Transexpr, Cutix and others.
Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 44.31 per cent.
The trade volume increased by152.74 million shares valued at N3.57 billion were exchanged in 3,293 deals.
United Bank of Africa (UBA) led the volume chart with 15.00 million units traded while Dangote Cement led the value chart in deals worth N2.09 billion.
The market sentiments as measured by market breadth closed positive as 18 stocks which led the gainers equals 18 stocks on the laggards logs.
On the performance board, Transexpr emerged as the highest price loser which appreciated by 9.88 per cent to close at N0.89 per share, Cutix plc which followed rose significantly by 8.50 per cent to close at N2.17 per share, while FTNCOCOA cocoa processor grew by 7.69 per cent to close at N0.28 per share
Sovereign Insurance which recorded as the last four gainer went up by 7.14 per cent to close at N0.30 per share.
Honey flour which recorded as the last fifth gainer rose by 6.39 per cent increased to close at N2.33 per share.
On the losers chart, MRS Oil led as the overall best loser which depreciated by 9.98 per cent to close at N27.95 per share, closely followed by Abctrans which lost 7.89 per cent to close at 7.89 per share, while Chams Plc dipped by 7.41 per cent to close at N0.25 per share.
Ardova Oil which recorded as the fourth loser went down by 6.20 per cent to close at N17.40 per share, while Royalex Exchange declined by 5.33 per cent to close at N0.71 per share.
Transaction in the shares of Courtville Business Solution topped the activities chart with 34.604 million shares worth N16.609 million, United Bank of Africa (UBA) that followed transacted 15.001 million shares valued at N127.310 million, while Guaranty Trust Holding Company traded 12.749 million shares valued at N335.933 million.
AXA Mansard insurance transacted 8.282 million shares worth N16.584 million, while Dangote Cement transacted 7.324 million shares worth N1.088 billion.
