NGX Index closes Santa Claus rally, up 0.12%

By Philemon Adedeji

Bullish sentiment persisted yesterday on the Lagos bourse to close the seven-trading session Santa Claus rally. Gains in Buafoods (+2.10 per cent), Zenith Bank (+0.42 per cent) and GuarantyTrust Holding Company (+1.08 per cent) offset losses in Buaccement (-1.79 per cent), First Bank Holdings (-1.78 per cent) and Accedd Corporation (-0.57 per cent), keeping the market in the green.

Absolutely, All-Share Index (ASI), gained 61.9 basis points representing 0.12 per cent to close at 51,657.56 index points from 51595.66 Index points it closed for previous trading day.

As a result, the year-to-date (YTD) return rose to 0.79 per cent, while market capitalization value inched weight by N33.71 billion to close at N28.136 trillion from N28.102 trillion it closed trade on Tuesday.

The upturn was impacted by price appreciation in medium and large capitalized stocks amongst are Buafoods, Nigerian Breweries, Nigerian Aviation Handling Company and others.

However, trading activities at the Nigerian Exchange Limited (NGX) were highly impressive as analysis revealed trade turnover closed higher relative to the previous session, with the value of transactions up by 211.02 per cent.

Sectoral performance was broadly positive as 12 NGX sector index closed northward, three closed southward and three closed flat. The NGX GROWTH index advanced by 7.72 per cent to top the gainer’s chart while the NGX-IND index declined by 0.77 per cent to top the losers’ chart.

Buacement led the volume chart and value chart with 101.65 million units traded in deals worth N9.85 billion.

The market sentiments as measured by market breadth closed positive, as Nigeria Breweries led 19 gainers, while Champion Breweries led 12 losers.

At the close of trade yesterday, trade volume declined by 17.4 per cent to close at 265,725,890 million share worth N13.528 billion were exchanged in 4,156 deals.

On the positive side, Nigerian Breweries, Nigerian Aviation Handling Company and Living Trust Mortgage Bank emerged as the highest price gainer which appreciated by 10 per cent each increased to close at N45.10, N7.70,N1.76 per share respectively.

First City Monument Bank (FCMB) which recorded as the last fourth gainer went up by 9.97 per cent to close at N3.86 per share.

Fidelity Bank which recorded as the last fifth gainer rose significantly by 9.86 per cent to close at N4.79 per share.

On the negative side, Champion Breweries led the laggards table with 10 per cent to close at N4.95 per share, followed by Unity Bank which lost 6.78 per cent to close at N0.55 per share , while United Bank of Africa (UBA) dropped by 3.61 per cent to close at N8.00 per share.

Jaizbank which recorded as the last fourth dipped by 3.33 per cent to close at N0.87 per share.

Consolidated Hallmark Insurance went down by 2.99 per cent to close at N0.65 per share.

Transaction in the shares of BuaCement topped the activities chart with 101.653 million shares worth N9.851 billion, followed by Transcorp Plc which transacted 32.770 million shares valued at N37.143 million, while Accesscorp accounted 22.955 million shares worth N199.940 million.

Guaranty Trust Holding Company transacted 12.226 million shares valued at N284.427 million, while United Bank of Africa traded 12.213 million shares worth N99.412 million.