NGX: Airtel Africa lifts capitalisation to N88bn

By Philemon Adedeji

Trading activities on the Nigerian Exchange Group (NGX) closed on bullish sentiments as Airtel Africa lifted capitalisation to N88 billion driven by gain in the index on track for a weekly gain. Consequently, the year-to-date (YTD) return rose to 8.62 per cent, while market capitalisation gained N88.05 billion to close at N30.33 trillion.

Absolutely, the NGX All-Share Index (ASI) gained 162.63 basis points or 0.29 per cent to close at 55,670.24 Index points points from 55,508.61 Index points it closed trade on Wednesday.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 50.45 per cent.

The trade volume declined further by 62.8 per cent to close at 206,110,250 million shares valued at N3.259 billion were exchanged in 4,385 deals.

As measured by market breadth, the market sentiments closed negative as Sunu Assurance led 17 gainers on the performance board, while Sovereign Insurance led 25 losers on the decliners log.

On the gainers chart, Sunu Assurance led the as the highest price gainer which rose significantly by 10.00 per cent increased to close at N0.44 per share, closely followed by Dangote Sugar which gained 9.94 per cent to close at N19.35 per share, while Mcnichols rose by 9.72 per cent to close at N0.79 per share.

Geregu Power which recorded as the last fourth gainer went up by 9.02 per cent to close at N325.00 per share.

Nascon which recorded as the last fourth gainer appreciated by 8.93 per cent to close at N12.20 per share.

On the losers table, Sovereign Insurance led as the highest price loser which dipped by 10.00 per cent to close at N0.27 per share, Academy Press which followed shed 9.38 per cent to close at N1. 16 per share, while Transcorp Plc lost 7.97 per cent to close at N1.27 per share.

Chams Plc which recorded as the last fourth loser went down by 7.14 per cent to close at N0.26 per share.

NGXGROUP which recorded as the last fifth loser dropped by 6.55 per cent to close at N27.10 per share.

Transaction in the shares of Transnational Corporation topped the activities chart with 29.746 million shares worth N39.149 million, followed by Access Corporation which transacted 18.645 million shares valued at 172.315 million, while UACN traded 14.021 million shares valued at N118.344 million.

Guaranty Trust Holding Company traded 13.055 million shares worth N348.627 million.

Zenith Bank accounted 9.276 million shares worth N244.604 million.