NGX commences week positive as investors gain N63bn

By Philemon Adedeji

Trading activities on the floor of Nigerian Exchange Limited (NGX) opened the week on a positive posture, extending gains from the previous session as the All-Share Index (ASI) closed at 115.58 absolute points or 0.24 per cent higher to close at 48,253.59 points from 48,154.65 points it closed week on Friday.

The market’s performance was primarily driven by gains in industrial heavyweight BUACEMENT (+3.90 per cent) and NIGERIAN BREWERIES (+2.22 per cent) offsetting selloffs in WAPCO (-1.59 per cent) and Tier-1 banking names, ZENITH BANK (-2.42 per cent) and First Bank Holding of Nigeria (-2.23 per cent).

Similiarly, the year-to-date (YTD) return rose to 12.96 per cent, while the market capitalization gained N63 billion to close at N26.291 trillion from N26.228 trillion it closed trade on Friday.

The upturn was impacted by gains recorded in large and small capitalized stocks amongst which are Buacement, Nigerian Breweries, Zenith Bank and others.

Yesterday market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 18.69 per cent.

The total volume appreciated by 303.6 per cent to at 645,025,961 million units valued at N4.190 billion were exchanged in 3,486 deals. UPDCREIT led the volume and value chart with 460.71 million units traded in deals worth N1.61 billion.

The market sentiments as measured by market breadth closed positive as GUINNESS NIGERIA Plc led fourteen gainers posted on the leader’s table, while GEREGU Power topped twelve losers posted on the laggards log.

Guinness Nigeria Plc recorded as the highest price gainer on the leaders table which rose from N63 to N69.30, up by 10 per cent, Eterna Plc which followed grew from N5.92 to N6.44, up by 8.78 per cent, while Royalex Exchange which recorded as the last third gainer inched weight from N0.72 to N0.78, up by 8.33 per cent.

Linkages Assurance rose from N0.40 to N0.43, up by 7.50 per share and Presco oil which recorded as the last fifth gainer went up from N113 to N120.50, up by 6.54 per share.

However, Geregu power Plc led the laggards table with 9.85 per cent to close at N110.70 per share, followed by SCOA which dipped by 9.43 per cent to close at N0.96 per share while Thomaswy dropped by 9.09 per cent to close at N0.40 per share.

Rt.briscoe depreciated by 7.41 per cent to close at N0.25 per share.

LASACO Assurance which recorded as the last fifth loser went down by 4.49 per cent to close at 0.85 per share.

Transaction in the share of Updcreit topped the activities chart with 460.705 million shares worth N1.612 billion, First Bank Holding of Nigeria which followed transacted 83.791 million shares valued at N901.725 million, While Zenith Bank sold 11.505 million shares valued at N258.541 million.

Transcorp Plc traded 10.461 million shares worth N12.295 million.

Guaranty Trust Holding Company transacted 8.254 million shares valued at N176.622 million.