Positive sentiments persist on NGX as Redstarex, Chams, others drag index up by 0.28%
By Philemon Adedeji
Bullish sentiments which persisted has reshaped prior sessions loss on the equities sector of the Nigerian Exchange Limited (NGX), as Redstarex, Chams Plc, Buacement, others sustained interest and dragged the All-Share Index higher by 0.28 per cent.
In summary, the All-Share Index (ASI) inched weight by 45.9 absolute points, representing an increase of 0.28 per cent to close at 48,988.04 index points.
As a result, the year-to-date (YTD) return rose to 14.68 per cent, while the market capitalization value gained N73.26 billion to close at N26.682 trillion from N26.609 it closed for previous trading day.
The market gain was driven by price appreciation in large and medium capitalised stocks which are Redstarex, Chams, BuaCement and nine others.
Analysis of yesterday’s’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 56.76 per cent.
Trade volume declined by 45.9 per cent to close at of 88,039,186 million shares valued at N1.675 billion and exchange in 2,832 deals.
GTCO led the volume chart with 10.21 million units traded while Nestle led the value chart in deals worth N240.79 million.
As measured by market breadth market sentiments closed positive as Redstarex led 12 others on the performance table, while Prestige Assurance topped nine others on the laggards’ table.
On the performance table, in yesterday trading Redstarex topped the advancers which rose from N2.06 to N2.26 per share up by 9.71 per cent, as Chams plc which followed grew significantly from N0.21 to N0.23 per cent, up by 9.52 per cent, while SCOA which recorded as the last third gainer increased from N0.78 to N0.85 per share, up by 8.89 per cent.
Learnafrica which recorded as the last fourth gainer went up from N1.81 to N1.97 per share, up by 8.84 per cent and LASACO Assurance which recorded as the last fifth gainer rose from N0.84 to N0.90 , up by 7.14 per cent.
Likewise, Prestige Assurance which led the laggards table lost 8.70 per cent to close at N0.42 per share, Multiverse and Mining Evaporation which followed depreciated by 8.51 per cent to close at N3.98 per share, while Linkages Assurance which recorded as the last third loser dipped by 6.98 per cent to close at N0.40 per share.
Eternal Oil Plc went down by 5.75 per cent to close at N6.07 per share and Dangote which recorded as the last fifth loser dropped by 5.56 per cent to close at N15.30 per share.
Transaction in the shares of Guaranty Trust Holding Company topped the activities chart with 10.213 million shares worth N213.646 million, followed by Zenith Bank which transacted 9.787 million shares valued at N225.271 million, while Jaizbank traded 7.910 million shares worth N7.022 million.
Sterling Bank transacted 5.167 million shares valued at N7.089 million.
United Capital traded 4.470 million shares worth N61.570 million.
