NGX All-Share Index rebounds slightly, up 0.04% as market capitalization rises to N9.47bn


By Philemon Adedeji

Trading activities on the Nigerian Exchange Limited (NGX) yesterday increased slightly as the benchmark index closed 0.04 per cent higher to settle at 43,477.48 index points from 43,466.93 index points. Rebound in Dangote Cement (+0.59 per cent) as well as Tier-1 banking names Zenith Bank (+0.25 per cent), Guaranty Trust Holding Company (+0.29 per cent) and United Bank of Africa (+1.43 per cent) were the main drivers of the market’s overall performance. Consequently, the year-to-date (YTD) return rose to 1.78 per cent while the market capitalisation value rose by N9.47 billion to close at N23.69 trillion.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 27.62 per cent.

A total of 133.41 million shares valued at N1.81 billion were exchanged in 3,078 deals.

First Bank Holding of Nigeria led the volume chart with 30.38 million units traded while Dangote Cement led the value chart  in deals worth N318.11 million.

Market sentiments as measured by market breadth closed positive as unity bank led ten gainers on the leaders chart as against Honey flour which led nine losers on the laggards table.

At the close of trade on Wednesday Unity Bank recorded as the highest price gainer with 9.09 per cent to close at N0.48 per share, followed by Linkage Assurance which appreciated by 7.69 per cent to close at N0.42, while Royalex Exchange which recorded as the third best gainer went up by 7.32 per cent to close at N0.88 per share.

Chams Plc gained a 4.35 per cent to close at N0.24 per share and Mutual Benefit Assurance rose significantly by 4.35 per cent to close at N0.27 per share.

However, Honey flour came as the most loser on the decliners table with 9.09 per cent to close at N2.00 per share followed by Prestige Assurance which dipped by 8.70 per cent to close at N120.50 per share while Jaizbank which recorded as the last third loser lost 6.15 per cent to close at N0.94 per share.

Oando Plc declined by 6.00 per cent to close at N3.90 per share and Regalins Insurance depreciated by 4.41 per cent to close at N4.00 per share.

Transaction in the shares of First Bank Holding of Nigeria topped the activities chart with 30.380 million share valued at 303.740 million, Oando Plc followed with 16.769 million shares worth N64.167 million, While Zenith Bank transacted 13.472 million shares worth N268.151 million.

United Bank of Africa traded 9.845 million shares valued at N69.024million and Guaranty Trust Holding Company sold 8.965 million shares worth N157.714 million.