Stock market closes positive, as investors gain N113bn
By Philemon Adedeji
Trading activities on the Nigerian Exchange Limited (NGX) opened the week on positive performance as the benchmark index inched up by 209.11 basis points or 0.47 per cent to close at 44,701.84 index points from 44,492.73 index points it closed trade on Friday.
The market’s performance was primarily driven by demand in Zenith Bank (+1.64 per cent), Guaranty Trust Holding Company (GTCO), (+0.26 per cent) and First Bank Holding of Nigeria (FBNH), (+1.82 per cent).
Specifically, the year-to-date (YTD) return grew to 4.65 per cent, while the market capitalization value gained N113.90 billion to close at N24.35 trillion.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 57.79 per cent.
A total of 159.56 million shares valued at N1.95 billion were exchanged in 3,607 deals. TRANSCORP (+1.80 per cent) led the volume chart with 35.24 million units traded while SEPLAT led the value chart in deals worth N478.43 million.
Market breadth closed positive at a 4.33-to-1 ratio with advancing issues outnumbering declining ones. Nigerian Breweries (+9.94 per cent) topped twenty-five (25) others on the gainer’s table, while JAPAULGOLD (-7.14 per cent) led five (5) others on the laggard’s log.
On the leaders chart, Nigerian Breweries emerged as the highest price gainer which gained 9.94 per cent to close at N45.35 per share, followed by Nem Insurance which grew significantly by 9.87 per cent to close at N4.12 per share.
PZ Cusson which recorded as the last third gainer appreciated by 8.72 per cent to close at N9.35 per share
Cadbury which recorded as the last fourth gainer went up by 7.32 per cent to close at N11.00 per share
Chams Plc rose by 4.35 per cent to close at N0.24 per share.
However, Japaulgold came as the highest loser at the close of trade yesterday, lost 7.14 per cent to close at N0.26 per share Followed by Aiico Insurance which depreciated by 5.36 per cent to close at N0.53 per share while Mansard insurance which recorded as the last third loser dipped by 5.08 per cent to close at N1.68 per share.
Sterling Bank went down by 1.41 per cent to close at N1.40 per share.
Jaizbank which recorded as the last fifth loser dropped by 1.11 per cent to close at N0.89 per share.
Transaction in the shares of Transcorp Plc topped the activities chart with 35.240 million shares valued at N39.398 million, Aiico Insurance which followed transacted 29.923 million shares worth N16.011 million, while Zenith Bank transacted 11.479 million shares valued at N247.697 million.
First Bank Holding of Nigeria traded 9.467 million shares worth N104.410 million.
Union Bank of Nigeria traded 9.323 million shares worth N61.055 million.
