Stock market closes on green posture, up 1.11%
By Philemon Adedeji
Trading activities on Nigerian Exchange Limited (NGX) closed yesterday on green posture, the market’s performance was primarily driven by demand in BUAFOODS (+2.56 per cent), ZENITH BANK (+7.85 per cent) and GTCO (+6.58 per cent).
The benchmark All Share Index (ASI) gained 751.19 basis points to represent 1.11 per cent close at 68,279.14 basis points from 67,527.19 basis points it closed trade on Friday
Consequently, the year-to-date (YTD) return rose to 33.22 per cent, while the market capitalisation gained N411.55 billion to close at N37.37 trillion.
The market upturn performance was driven by price appreciation in medium and large capitalised stocks which includes Buafoods, Zenith Bank, Dangote Sugar, Nascon Allied among others.
The breakdown of yesterday’s market performance revealed trade turnover settled higher relative to the previous session, with the value of transactions up by 88.56 per cent.
The trade volume increased to 845, 680,901 millions units valued at N13.04 billionn were exchanged in 11,934 deals.
REGAL INSURANCE led the volume chart with 100.984 million units traded while ZENITH BANK (+7.85 per cent) led the value chart in deals worth N2.80 billion.
Dangote Sugar led the leaders league with 10.00 per cent to close at N66.55 per share, closely followed by Nascon Allied which rose by 9.98 per cent to close at N61.15 per share, while Johnholt grew by 9.92 per cent to close at N1.44 per share.
Oando Plc which recorded as the last fourth gainer went up by 9.91 per cent to close at N6.10 per share, while LASACO Insurance appreciated by 9.60 per cent increased to close at N2.17 per share.
On the other side, Consolidated Hallmark Insurance led the losers chart with 9.57 per cent to close at N1.04 per share, Cornerstone Insurance which followed dipped by 9.29 per cent to close at N1.27 per share, while Sunu Assurance depreciated by 9.09 per cent to close at N0.80 per share.
UPDC real estate investment lost 8.22 per cent to close at N3.35 per share, while NGXGROUP went down by 7.20 per cent to close at N24.50 per share
Transaction in the shares of Regal Insurance topped the activities chart with 100.984 million shares valued at N40.391 million, Fidelity Bank which followed traded 85.144 million shares worth N695.027 million, while Zenith Bank transacted 75.411 million shares worth N2.789 billion.
United Bank for Africa traded 60.214 million shares valued at N930.201 million.
Transnational Corporation accounted 56.813 million shares worth N407.418 million.
