Stock market closes positive, as gain in Airtel Africa lifts capitalisation to N228bn
By Philemon Adedeji
Opening the week, stock market closed in green zone, caused by renewed interest in telecommunication heavyweight, Airtel Africa which pushed the broader index into positive territory.
Absolutely, the year-to-date (YTD) return rose to 5.80 per cent, while market capitalisation value gained N228.74 billion to close at N29.538 trillion from N29.310 trillion it closed trade on Friday.
The Nigerian Exchange Limited (NGX), All-Share Index gained 419.89 basis points or 0.78 per cent to close at 54,224.35 Index points from 53,804.46 Index points it closed trade on Friday.
The upturn performance was driven by price appreciation in medium and large capitalized stocks which are Conoil Oil, Airtel Africa, Computer Warehouse Group, Zenith Bank and Others.
The breakdown of yesterday’s market performance indicated trade turnover settled higher relative to the previous session, with the value of transactions up by 46.21 per cent.
The total trade volume increased to 154,628,198 million shares valued at N5.505 billion were exchanged in 3,095 deals.
Guaranty Trust Holding Company (GTCO) led the volume chart with 36.68 million units traded while Airtel Africa led the value chart in deals worth N2.94 billion.
As measured by market breadth, market sentiments closed negative as Capital Hotel topped 12 others on the laggard’s log while Conoil Oil led 8 others on the leader’s table.
On the performance chart, Conoil Oil Plc emerged as the best price gainer appreciated by 9.93 per cent increased to close at N38.75 per share, Computer Warehouse Group which followed went up by 9.88 per cent to close at N0.89 per share, while Johnholts which came as the third best gainer grew by 9.77 per cent to close at N1.46 per share.
Living Trust Mortgage Bank rose significantly by 9.57 per cent increased to close at N2.52 per share, as Tripple Gand Company which recorded as the last fifth gainer went up by 9.55 per cent increased to close at N2.18 per share.
On the laggard’s board, Capital Hotel led as the highest price loser which dipped by 9.42 per cent to close at N2.50 per share, Closely followed by Vitafoam Nigeria which gained 7.18 per cent to close at N19.40 per share, while Chams Plc which recorded as the last third loser depreciated by 6.90 per cent to close at N0.27 per share.
Nigerian Aviation Handling Company lost 3.57 per cent to close at N8.10 per share Ecobank Transnational Incorporation which recorded as the last fifth loser went down by 2.83 per cent to close at N12.00 per share.
Transaction in the shares of Guaranty Trust Holding Company topped the activities chart with 36.683 million shares worth N923.667 million, Zenith Bank which followed traded 30.271 million shares valued at N758.111 million, while AIICO Insurance transacted 8.266 million shares valued at N4.959 million.
AXA Mansard Insurance traded 7.801 million shares value at N15.603 million, Living Trust Mortgage Bank traded 62.701 million shares worth N13.533 million.
