NGX maintains uptrend, gains N850bn
By Philemon Adedeji
Opening the week yesterday, the Nigerian Exchange Limited (NGX) maintained an uptrend as investors recorded N850.97 billion daily gain. Riding on improved sentiments, equities investors saw market capitalisation expanding nearly N35.18 trillion.
Similarly, the NGX All Share Index (ASI) appreciated by 1,563.28 basis points or 2.48 per cent to close at 64,603.69 index points from 63,040.41 Index points it closed trade on Friday. the highest point since 17 March, 2008.
The market’s performance was primarily driven by continued demand in MTNN (+1.82 per cent), DANGOTE CEMENT (+10.00 per cent) and STANBIC IBTC (+6.83 per cent) offsetting losses in GTCO (-1.91 per cent), WAPCO INSURANCE (-0.17 per cent) and Nigerian Breweries (NB) (-2.52 per cent).
The breakdown of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 59.11 per cent.
First Bank Holdings (FBNH) (+9.85 per cent) led the volume and value charts with 198.22 million units traded in deals worth N4.42 billion.
The trade volume increased to 1,839,046,864 million shares valued at N22.033 billion were exchange in14.584 deals.
The upturn performance was impacted by price appreciation in medium and large capitalised stocks amongst are, M DAAR Communication, Dangote Cement, MRS Oil Neimeth Insurance and others.
The market sentiment as measured by market breadth closed positive as 71 stocks recorded on the leaders log as against 19 stocks which recorded on the decliners log.
On the positive side, five stocks which are, DAAR Communication, Dangote Cement, MRS Oil, Neimeth Pharmaceutical Industry and Jaiz Bank appreciated by 10.00 per cent each increased to close at N0.22, N330.10, N109.45, N2.20, N1.98 per share respectively.
On the negative side, Uniondicon emerged as the overall best loser which lost 9.50 per cent to close at N8.10 per share, followed by Berger paint which shed 9.09 per cent to close at N10.00 per share, while Guinea Insurance suffered 7.69 per cent to close at N0.24 per share.
Champion Breweries which recorded as the last fourth loser went down by 5.43 per cent to close at N4.35 per share, while Oando plc which recorded as the last fifth loser dipped by 3.45 per cent to close at N5.60 per share.
Transaction in the shares of First Bank holdings topped the activities chart with 198.221 million shares worth 4.417 billion, UNIVINSURE which followed transacted 184.655 million shares valued at N53.464 million, while Sterling bank accounted 161.679 million shares valued at N724.332 million.
Transnational Corporation sold 156.417 million shares worth N706.915 million, while AIICO Insurance transacted 98.321 million shares worth N73.579 million.
