NGX maintains positive momentum, gains N113bn
By Philemon Adedeji
The Nigerian equities maintained the positive momentum as the benchmark All Shares Index (ASI) closed at 309.1 basis points representing 0.36 per cent stronger to close at 59,323.95 index points from 59,014.85 index points it closed trade on Tuesday. Sustained appetite for Dangote Cement (+0.07 per cen), Bua Cement (+4.65 per cent) and Stanbic IBTC(+1.98 per cent) outweighed losses in Zenith Bank (-0.78 per cent), Geregu Power (-5.45 per cent) and GTCO (-0.93 per cent) keeping the market in the green.
As a result, the ASI’s year-to-date (YTD) return increased to 15.75 per cent, while the market capitalisation gained N116.49 billion to close at N32.30 trillion from N32.133 trillion it closed for previous trading day.
The market upturn performance was impacted by price appreciation in medium and large capitalized stocks which are: Afromedia, Bua cement, Stanbic IBTC, Etranzact International, Neimeth Pharmaceutical Industry and others.
Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 31.84 per cent.
The trade volume increased by 9.2 per cent to 643, 031, 260 million share worth N6.11 billion were exchanged in 7,806 deals.
Guaranty Trust Holding Company (GTCO) (-0.93 per cent) led the volume and value charts with 44.86 million units traded in deals worth N1.44 billion.
Market breadth closed positive as 44 stocks led the gainers on the leaders chart versus 25 stocks that led the losers on the laggards like g
On the advancers chart, Afromedia emerged as the highest price gainer which appreciated by 10.00 per cent to close at N0.22 per share, Etranzact International which followed went up by 9.91 per cent to close at N5.88 per share, while Neimeth Pharmaceutical and FTNCOCOA processor grew by 9.88 per cent each increased to close at N1.78 per share respectively.
Unity bank which recorded as the last fifth gainer rose by 9.76 per cent to close at N1.35 per share.
On the decliners chart, Jaiz bank led the league of decliners with 10.00 per cent to close at N1.53 per share, Meyer which followed suffered 9.88 per cent to close at N2.19 per share, while Ikeja Hotel lost 9.86 per cent to close at N3.20 per share.
Tantilizer which recorded as the last fourth loser dipped by 9.09 per cent to close at N0.20 per share, while Cadbury plc which recorded as the last fifth loser dropped by 9.04 per cent to close at N17.10 per share.
Transaction in the shares of UNIVINSURE topped the activities chart with 141.336 million shares worth N35.088 million, Guarant Trust Holding company that trailed behind transacted 44.862 million shares valued at N1.440 billion, while Japaulgold traded 37.683 million shares valued at N23.280 million.
United Bank for Africa exchanged 31.667 million shares worth N362.033 million, while Access Corporation transacted 27.444 million shares worth N409.238 million.
