Stock market still on upward trajectory

By Philemon Adedeji

Trading activities in the stock market of the Nigeria Exchange Limited (NGX), yesterday still closed on appreciation by 0.56 per cent, following the investors like Ellahlakes, FCMB, FBNH, Presco and others that maintained consistent bargain during transaction.

All-Share index appreciated by 285.46 basis points to represent 0.56 per cent to close trade at 51,377.21 index points from 51,091.75 index points it closed transaction on Tuesday.

Absolutely, market capitalisation value closed on appreciation to N153 billion or 0.56 per cent to close trade at N27.697 trillion from N27.544 trillion it closed for previous trading day.

Volume of trade which closed on Tuesday by 166,979,136 million units increased by 37.3 per cent on Wednesday to 229,366,382 million units valued by N3.196 billion and exchanged in 4,536 deals.

On the gainers side, Ellahlakes appreciated by 10 per cent or 0.40 kobo increased to close trade at N4.40 per share, Followed by Presco which recorded as the second best gainer grew by 16.20 kobo to represent 9.71 per cent increased to close trade at N183 per share.

First bank holding of Nigeria rose by 9.52 per cent or 0.80 kobo increased to close trade at N9.20 per share, as Livestock gained 0.12 kobo to represent 9.09 per cent increased to close trade at N1.44 per cent and Courtville business solution went up by 8.70 per cent or 0.04 kobo to close trade at N0.50 per share.

On the decliners chart, NNFM recorded as the highest  loser yesterday which dropped by 10 per cent to close trade at N9.56 per share, Johnholts followed with declination of 9.71 per cent or N0.64 per share, while CWG which recorded as the third best loser dipped by 0.08 kobo representing 9.09 per cent to close trade at N0.80 per share.

Chiplc which declined by 8.82 per cent or 0.06 kobo to close trade at N0.62 per share and Glaxosmith which recorded as the last fifth decliner depreciated by 6.26 per cent to close trade at N6.00 per share.

On the activities chart, transaction in the share of Oando topped the activities chart yesterday with 34.643 million shares value at N184.977 million, Followed by First City Monument Bank traded 26.198 million shares worth N91.683 million, while United Bank of Africa sold 26.018 million shares valued at N194.046 million.

Accesscorp accounted 22.772 million shares worth N216.285 million and Guaranty trust holding company transacted 15.828 million shares valued at N332.394 million.

At the close of trade yesterday Oando recorded as the highest in terms of volume while Guaranty trust holding company recorded as the highest in terms of value.