NGX maintains positive sentiments as investors gain 199bn
By Philemon Adedeji
At the Nigerian Exchange Limited (NGX), Domestic trading sustained the Santa Claus rally crossing the 50,000 psychological mark. The benchmark All-Share Index (ASI) inched weight by 365.4 basis points to represent 0.73 per cent closing at 50,300.00 index points from 49,934.60 index points it closed previously.
Investors interests in MTNN (+0.47 per cent), Nestle (+10.00 perc ent), Seplat (+4.76 per cent), Nigerian Breweries (+9.04 per cent) and Geregu Power (+10.00 per cent) buoyed the broad market’s strong performance. The market capitalisation value appreciated by N323 billion to close at N27.397 trillion from N27.074 trillion it closed trade on Wednesday.
The price appreciation was impacted by gains recorded in medium and large capitalised stocks such as Geregu Power, Nestle Nigeria, MTNN, Computer Warehouse Group (CWG), Royalex Exchange and 26 others.
Analysis of Yesterday’s market activities revealed trade turnover settled higher relative to the previous session, with the value of transactions up by 102.36 per cent.
Similarly, the market’s positive return, year-to-date (YTD) printed higher at 17.75 per cent from 16.84 per cent it closed for previous trading day. In 4,480 deals, Investors exchanged 490,483,960 million share valued at N7.747 billion.
First Bank Holding of Nigeria (FBNH) led the volume chart and value charts with 271.364 million units traded in deals worth N3.201 billion.
The market sentiments as measured by market breadth closed positive as Geregu power and Nestle Nigeria led thirty-one others on the gainer’s log, while LIVESTOCK led eight others on the laggard’s table.
On the performance chart, Geregu power and Nestle Nigeria emerged as the overall best gainer which rose significantly by 10.00 per cent each to close at N139.70 and N1100 per share respectively.
Mcnichols which recorded as the last third gainer went up by 9.62 per cent to close at N0.57 per share, while Computer Warehouse Group grew by 9.57 per cent increased to close at N0.92 per share.
Royalex Exchange which recorded as the last fifth gainer appreciated by 9.35 per cent increased by N1.17 per share.
On the laggards table, Livestock led as the highest loser which depreciated by 8.40 per cent to close at N1.07 per share, followed by First Bank Holding of Nigeria which lost 6.36 per cent to close at N11.05 per share, while Vitafoam which recorded as the best loser went down by 5.92 per cent to close at N20.65 per share.
Unilever dipped by 2.54 per cent to close at N11.50 per share, Fidelity Bank which recorded as the last third loser dropped by 1.94 per cent to close at N4.50 per share.
Transaction in the shares of First Bank Holding of Nigeria topped the activities chart with N271.364 million shares valued at N3.201 billion, Guaranty Trust Holding Company that followed transacted 38.530 million shares worth N922.553 million, while Zenith Bank accounted 19.642 million shares valued at 486.572 million.
AIICO insurance traded 17.472 million shares valued at N9.969 million.
Consolidated Hallmark Insurance transacted 13.923 million shares valued at N9.093 million.
