Stock market closes bullish, as Tier-1 bank investors gain N9bn
By Philemon Adedeji
Opening the week yesterday, equities market closed on a bullished sentiments as a result of maintaining constitient bargain by Tier-1 banking investors which Zenitih Bank (+0.62 per cent), Access Corporation (+1.01 per cent) and Wapco insurance (+0.41 per cent) during transaction which offset declines in Guaranty Trust Holding Company (GTCO) (-0.62 per cent), Stanbic IBTC (-0.27 per cent), and FBNH (-0.41 per cent).
As a result, the year-to-date (YTD) return rose at 1.91 per cent, while the market capitalisation value grew by N9.07 billion to close at N28.44 trillion from N28.431 it closed trade for previous trading day.
Specifically, the NGX All Share Index (ASI) rose by 16.67 basis points to represent 0.03 per cent higher to settle at 52,231.29 absolute points from 52,214.62 absolute points it closed trade on Friday.
The breakdown of yesterday’s market performance showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.01 per cent.
The upturn performance was impacted by price appreciation in medium and large capitalized stocks which are:Oando plc, NCR, Transnational Corporation, Zenith Bank and 20 others.
The trade volume declined further by 55.8 per cent to close at 626, 389, 579million shares valued at N5.599 billion were exchanged in 6,033 deals.
Transnational Corporation led volume chart with 190.85m units traded, while Access Corporation led the value chart in deals worth N1.25 billion.
The market sentiments as measured by market breadth closed positive as Oando plc led 24 gainers on the advancers table, while Computer Warehouse Group led 19 losers on the decliners logs.
On the advancers table, Oando plc emerged as the highest best gainer which appreciated by 9.91 per cent to close at N6.10 per share, closely followed by NCR which grew by 9.77 per cent increased to close at N2.81 per share, while Transnational Corporation rose by 9.65 per cent to close at N2.84 per share.
Ikeja Hotel which recorded as the last fourth gainer went up by 9.62 per cent to close at N1.71 per share.
Julius Berger which recorded as the last fifth gainer rose by 8.77 per cent to close at N31.00 per share.
However, on the decliners logs, Computer Warehouse Group led as the most price loser which shed 9.66 per cent to close at N1.87 per share, Nem insurance which followed suffered 9.45 per cent loss to close at N4.12 per share, while Royalex Exchange went down by 7.41 per cent to close at N0.50 per share.
Cutix which recorded as the last fourth loser dipped by 4.13 per cent to close at N2.32 per share and AIICO Insurance which recorded as the last fifth loser dropped by 3.39 per cent to close at N0.57 per share.
