Stock market closes positive as investors gain N69bn
By Philemon Adedeji
Equities market at the Nigerian Exchange Limited (NGX), bounced back yesterday, paring the prior session’s loss, as the benchmark All-Share Index (ASI) gained 126.22 basis points or 0.23 per cent higher to closed at 54,315.53 absolute points from 54,189.31 absolute points it closed for previous trading.
The market’s performance was bolstered by renewed investor interests in ZENITH BANK (+0.80 per cent), Guaranty Trust Holding Company (GTCO) (+0.80 per cent), ACCESS CORPORATION (+0.55 per cent) and GEREGU Power (+10.00 per cent).
As a result, the year-to-date (YTD) return rose to 5.98 per cent, while the market capitalisation gained N69 billion to close at N29.588 trillion from N29.519 trillion it closed trade on Tuesday.
Yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 74.82 per cent.
The upturn performance was impacted by price appreciation in medium and large capitalised stocks which are, Zenith Bank, Geregu Power, Living Trust Mortgage Bank, Johnholts and others.
AIICO Insurance led the volume chart with 16.176 millions units traded while Seplat Energy led the value chart in deals worth N1.10 billion.
The market sentiments as measured by market breadth closed positive as Geregu Power topped 12 others on the leader’s log while Mcnichols led 8 others on the laggards table.
The trade volume declined by 48.9 per cent to close at 129,914,292 million shares valued at N3.922 billion were exchanged in 2,678 deals.
Geregu Power led the gainers chart with 10.00 per cent increased to close at N246.40 per share, Johnholts which recorded as the second best gainer appreciated by 9.59 per cent to close at N1.60 per share, while Living Trust Mortgage Bank went up by 7.55 per cent increased to close at N2. 88 per share.
UPL which recorded as the last fourth gainer rose by 5.26 per cent increased to close at N2.00 per share.
Veritaskap Insurance which recorded as the last fifth gainer grew significantly by 5.00 per cent to close at N0.21 per share.
