NGX Index up 0.16%, driven by gain in Dangote Cement, GTCO, others
By Philemon Adedeji
Equities market on the Nigerian Exchange Limited (NGX) extended gains for the second consecutive session, as the benchmark All Share Index (ASI) increased higher to close at 95.17 basis points representing 0.16 per cent to close at 59,110.02 absolute points from 59,014.85 absolute points it closed for previous trading day.
Gains in industrial giant, Dangote Cement (+0.14 per cent) alongside banking names Guaranty Trust Holding Company (GTCO) (+0.78 per cent) and Accesss Corporation (+0.34 per cent), were the main drivers of the market’s overall performance, outweighing losses in Nigerian Breweries (-0.68 per cent), Ecobank Transnational Incorporation (+1.28 per cent) and International Brewery (-1.89 per cent).
Consequently, the year-to-date (YTD) return rose to 15.33 per cent while the market capitalisation gained N51.82 billion to close at N32.19 trillion.
The performance of yesterday’s market activities indicated trade turnover closed lower relative to the previous session, with the value of transactions down by 19.61 per cent.
The trade volume decreased by 34.1 per cent to 588, 854, 143 million shares valued at N8.96 billion were exchanged in 8,272 deals.
UBA led the volume chart with 78.51 million units traded, while GTCO (+0.78 per cent) led the value chart in deals worth N2.11 billion.
Market breadth closed positive as 50 stocks led the gainers as against 19 stocks led the losers.
At the close of trade yesterday five stocks led the leaders chart with 10.00 per each, which are, Academy press, Chams Holdings, GUINEAINS, Skyway Aviation and Learn Africa increasd to at N1.98, N0.44, N0.22, N7.70, N2.66 per share respectively.
However, on the laggards log, Cileasing emerged as the highest price loser which depreciated by 10.00 per cent to close at N4.05 per share, Cornerstone Insurance which followed lost 9.82 per cent to close at N1.01 per share, while NSL tech suffered 8.70 per cent to close at N0.42 per share.
Veritaskap Insurance which recorded as the last fourth loser went down by 8.70 per cent to close at N0.21 per share, while RT.briscoe which recorded as the last fifth loser dipped by 8.11 per cent to close at N0.21 per share.
Transaction in the shares of United Bank of Africa (UBA) topped the activities chart with 78.511 million shares worth N907.474 million, Guaranty Trust Holding Company which followed traded 65.398 million shares valued at N2.107 billion, while Transnational Incorporation exchanged 33.706 million shares valued at N112.040 million.
Access Corporation traded 31.378 million shares worth N466.626 million
Veristaskap accounted 27.759 million shares worth N6.088 million.
