NGX ASI rises by 0.06% amid gains on MTNN, Buafoods shares

By Philemon Adedeji

At the Nigerian Exchange Limited (NGX), closing the month yesterday the domestic bourse ended mixed with a bullish tilt as the All Share Index (ASI) managed to close by 23.54 basis points or 0.06 per cent to close at 55,769.28 absolute points from 55,745.74 absolute points it closed trade on Tuesday driven by sustained demand for MTNN (+0.40 per cent), Bua Foods (+5.61 per cent) and Geregu power  (+1.68 per cent).  Offset losses in Tier-1 banking names Zenith bank  (-2.36 per cent), Guaranty Trust Holding Company (GTCO) (-2.38 per cent) and Access  Corporation (-0.40 per cent) to keep the broader index in the positive terrain.

Respectively, the market capitalisation of equities gained N17 billion to close at N30.367 trillion, compared to the N30.350 trillion recorded in the previous trading session.

Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 20.25 per cent.

The trade volume increased to 661,509,042 million shares valued at N18.998billion were exchanged in 10,024 deals.

Acess  Corporation  led the volume chart with 98.73 million units while Geregu  Power led the value chart in deals worth N9.76billion.

As measured by market breadth market sentiments closed negative as Mcnichols led 30 gainers on the leaders log, while Nascon led 39 losers on the decliners logs.

On the leaders chart, Mcnichols, Veritaskap insurance, Jaiz bany came as the highest price gainer with appreciation of 10.00 per cent each increased to close at N0.77, N0.22, N1.22 per share respectively.

Conoil Oil which recorded as the last fourth gainer went up by 9.96 per cent increased to close at N57.95 per share, while MRS Oil rose by 9.33 per cent to close at N44.85 per share.

On the other hand, Nascon led as the highest best loser which depreciated by 9.09 per cent to close at N0.20 per share, followed by RT. BRISCOE which suffered 8.77 per cent to close at N0.52 per share, while Glaxosmith shed 8.70 per cent to close at N0.21 per share.

Caverton Offshore which recorded as the last fourth loser went down by 8.28 per cent to close at N13.30 per share Deacap which recorded as the last fifth loser diminished by 8.05 per cent to close at N4.00 per share.

Transaction in the shares of Access Corporation topped the activities chart with 98.730 million shares worth N1.194 billion, followed by United Bank for Africa (UBA) which transacted 90.198 million shares valued at N891.591 million, while Zenith Bank traded 44.535 million shares valued at N1.262 billion.

Guaranty Trust Holding Company accounted 39.599 million shares worth N1.129 billion.

Sterling bank exchanged 34.181 million shares valued at N69.125 million.

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