NGX Tier-1 investors lift stock market to N18bn
By Philemon Adedeji
At the Nigerian Exchange Limited (NGX), trading activities closed on positive note as Tier-1 banking investors maintained consistent bargain by lifting market capitalisation to N18bn, the Tier-1 investors includes Zenith Bank (+0.23 per cent), Stannbic IBTC (+3.19 per cent) and ACCESS CORPORATION (+1.69 per cent) offsetting losses in WAPCO(-1.47 per cent), Nigerian Breweries (NB) (-1.50 per cent) and FCMB (-0.86 per cent).
Respectively, the NGX All Share Index (ASI) closed by 40.39 basis points or 0.08 per cent stronger to close at 51,178.41 Index points from 51,148.02 index points it closed for previous trading day.
As a result, the ASI year-to-date (YTD) increased to 0.14 per cent, while market capitalisation gained N18 billion to close at N27.870 trillion from N27.870 trillion it closed trade on Tuesday.
The breakdown of yesterday’s performance indicated trade turnover settled lower relative to the previous session, with the value of transactions down by 20.77 per cent.
The upturn performance was impacted by price appreciation in medium and large capitalised stocks which includes, Transnational Corporation, Zenith Bank, International Breweries, Academy Press, Livestock and 20 others.
A total of 1.27 billion shares valued at N3.98 billion were exchanged in 3,505 deals.
TRANSNATIONAL CORPORATION led the volume and value charts with 1.14 billion units traded in deals worth N2.14 billion.
At the close of trade yesterday the market sentiments closed positive as Transnational Corporation topped 25 gainers on the leaders chart, while FTNCOCOA Processor topped 8 losers on the decliners logs.
On the leaders chart, Transnational Corporation led as the highest price gainer which rose by 9.85 per cent to close at N2.23 per share, International Breweries which followed appreciated by 6.74 per cent to close at N4.75 per share, while Academy Press grew by 6.56 per cent to close at N1.30 per share.
Livestock which recorded as the last fourth gainer went up by 4.26 per cent to close at N0.98 per share, while RT. BRISCOE which recorded as the last fifth gainer appreciated by 4.17 per cent to close at N0.25 per share.
On the decliners chart, FTNCOCOA Processor which led the losers dipped by 3.85 per cent to close at N0.25 per share, closely followed by Prestige Assurance which suffered 2.50 per cent loss to close at N0.39 per share, while Nigerian Breweries went down by 1.50 per cent to close at N36.20 per share.
Wapco insurance which recorded as the last fourth loser shed 1.47 per cent to close at N23.40 per share, while Africa Prudential which recorded as the last fifth loser depreciated by 0.92 per cent to close at N5.40 per share.
