NGX Index up 0.51%, market capitalisation increases to N145bn


By Philemon Adedeji

Equities market on the Nigerian Exchange Limited (NGX) maintained bull run for two consecutive sessions since the week opened, causing All-Share Index to gain 227.49 absolute points or 0.51 per cent to close at 44,929.33 index points from 44,701.84 Index points it closed trade on Monday.

The key drivers that caused market positive performance is due to buying of interest in Telco heavy weight, MTNN, (+1.52 per cent) and Buafoods (+1.27 per cent).

Respectively, the year-to-date (YTD) return rose to 5.18 per cent, with the market capitalisation increasing by N145 billion to close at N24.471 trillion from N24.326 trillion it closed for previous trading day.

Analysis of yesterday market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 97.51 per cent.

The total traded volume declined by 20.7 per cent from 126,564,239 million shares valued at N3.851 b billion were exchanged in 3,383 deals.

Zenith Bank (+1.84 per cent) led the volume chart with 13.55 million units traded while MTNN (+1.52 per cent) led the value chart in deals worth N2.40 billion.

Market breadth closed positive at a 6.75-to-1 ratio with advancing issues outnumbering declining ones. UPDCREIT topped twenty-six others on the leaders table, while Presco (-7.17 per cent) led three others on the laggard’s log.

Updcreit was recorded as the most price gainer at the close of trade on Tuesday which appreciated by 10 per cent to close at N2.75 per share followed by International Breweries which gained 9.41 per cent to close at N4.65 per share, while Sovereign Insurance went up by 8.33 per cent to close at N0.26 per share.

Fidson Healthcare which recorded as the last fourth gainer grew significantly by 6.99 per cent to close at N8.72 per share.

UACN which recorded as the last fifth gainer rose by 6.74 million shares worth N9.50 per share.

However, Rt.Briscoe led the losers chart with 10 per cent to close at N0.27 per share followed by Presco oil which depreciated by 7.17 per cent to close at N110.00 per share while Chams Plc dipped by 4.17 per cent to close at N0.23 per share.

Sunu Assurance which recorded as the last fourth loser went down by 3.45 per cent to close at N0.28 per share and Consolidated Hallmark Insurance dropped by 3.28 per cent to close at N0.59 per share.

Transaction in the shares of Zenith Bank topped the activities chart with 13.550 million shares valued at N298.637 million, Fidelity Bank which followed transacted 12.163 million shares worth N49.449 million while MTNN traded 12.003 million shares valued N2.400 billion.

AIICO Insurance accounted 10.960 million shares worth N5.848 million.

Transcorp Plc transacted 10.228 million shares worth N11.530 million.