Stock market appreciates by 0.02%, as market capitalisation gains N6bn
Trading activities on the Lagos bourse was mixed, albeit with a bullish sentiment as the benchmark All-Share Index closed Significantly higher by 10.91 absolute points representing 0.02 per cent to close at 52,626.42 Index points from 52,615.51 Index points.
Gains in WAPCO (+1.02 per cent), Access Corporation (+0.56 per cent) and ETI (+1.30 per cent) offset the losses in Zenith Bank (-0.20 per cnt), Guaranty Trust Holding Company (-0.41 per cent) and United Bank of Africa (-1.23 per cent).
Absolutely, the market remains on track for a weekly gain. The year-to-date (YTD) return rose to 2.68 per cent, while the market capitalisation value grew by N6 billion to close at N28.66 trillion from N28.658 trillion it closed on Wednesday.
The market gain was impacted by price appreciation in medium and large capitalised stocks amongst are INTENEGINS, Computer Warehouse Group, Zenith Bank, Caverton Offshore and others.
According to analysis of yesterday’s market revealed trade turnover closed lower relative to the previous session with the value of transactions down by 59.32 per cent.
The trade volume declined by 40.8 per cent to close at 129,038,807 million shares valued at N1.819 billion were exchanged in 3,183 deals.
Zenith Bank led the volume and value charts with 18.554 million share traded in deals worth N455.739 million.
The market sentiments as measured by market breadth closed positive as INTENEGINS topped 19 others on the gainer’s table while CHAMS plc topped 10 others on the laggard’s log.
On the gainers table, INTENEGINS came as the most price gainer which gained 9.76 per cent to close at N0.45 per share, Computer Warehouse Group which followed appreciated by 9.47 per cent to close at N1.04 per share, while Caverton Offshore which recorded as the last third gainer grew significantly by 9.38 per cent to close at N1.04 per share.
Johnholts which recorded as the last fourth gainer rose by 9.09 per cent to close at N0.96 per share.
Linkages Assurance which recorded as the last fifth gainer went up by 8.31 per cent to close at N0.52 per share.
On the loser table, Cleansing led as the highest loser with 10.00 per cent declined to close at N3.15 per share, Chams Plc and Sovereign Insurance which followed shed 7.14 per cent each to close at N0.26 per share respectively.
UPDC Real Estate Investment which recorded as the last fourth loser went down by 6.06 per cent to close at N3.10 per share.
Royalex Exchange which recorded as the last fifth loser dipped by 5.56 per cent to close at N0.85 per share.
Transaction in the shares of Zenith Bank topped the activities chart with 18.554 million shares worth N455.739 million, Guaranty Trust Holding Company transacted 18.552 million shares valued at N451.132 million, while United Bank of Africa traded 9.730 million shares worth N78.615 million.
Royalex Exchange traded 9.393 million shares valued at N7.793 million.
Access Corporation accounted 7.674 million shares valued at N69.493 million.
