Tier-1 bank investors lift capitaliSation by N14bn
By Philemon Adedeji
The Nigerian Exchange Limited (NGX) extended gain for fourth consecutive session as the investors in Tier-1 banking names Zenith Bank (+0.41 per cent) and Guaranty Trust Holding Company (GTCO) (+0.41 per cent) were the main drivers of the market’s overall performance, outweighing losses in ACCESS CORPORATION (-1.30 per cent), Dangote Sugar (-0.52 per cent) and Union Bank of Nigeria (UBN) (-1.41 per cent).
As a result, the year-to-date (YTD) return rose to 2.64 per cent while the market capitalisation rose by N14.70 billion to close at N28.643 trillion.
The NGX All Share Index (ASI) appreciated by 25.89 basis points to represent 0.04 per cent increased to close at 52, 605.41 Index points from 52,579.52 Index points it closed trade on Tuesday.
The breakdown of yesterday’s trading showed trade turnover settled lower relative to the previous session, with the value of transactions down by 0.09 per cent.
Access Corporation led volume and value charts with 129.73 million units traded in deals worth N1.48 billion.
The market upturn performance was impacted by price appreciation in medium and large capitalised stocks which are Conoil plc, Multiverse and Mining Evaporation, Computer Warehouse Group, Others.
The trade volume increased to 640, 968, 526 million units valued at N7.132 billion were exchanged in 5,684 deals.
The market sentiments as measured by market breadth closed positive as Conoil topped 32 gainers on the advancers log, while Unity bank topped 19 losers on the laggards log
On the leaders table, Conoil plc recorded as the overall best gainer which appreciated by 10.00 per cent to close at N48.40 per share, Multiverse and Mining Evaporation which followed rose by 9.97 per cent to close N3.75 per share, while Johnholt grew by 9.77 per cent increased to close at N1.91 per share
Computer Warehouse Group which recorded as the last fourth gainer appreciated by 9.66 per cent to close at N1.59 per share, while Transnational Corporation increased by 9.50 per cent to close at N1.96 per share
However, Unity Bank which led the laggards log went down by 9.26 per cent to close at N0.49 per share, Japaulgold which followed suffered 8.82 per cent loss to close at N0.31 per share, while Cutix Plc lost 8.80 per cent to close at N2.28 per share.
Nigerian Breweries which recorded as the last fourth loser dipped by 8.29 per cent to close at N32.10 per share, while Academy press declined by 5.71 per cent to close at N1.65 per share.
Transaction in the shares of Access Corporation topped the activities chart with 129.728 million shares worth N1.481 billion, closely followed by United Bank for Africa which exchanged 91.113 million shares valued by N72.847 million, while First Bank Holding of Nigeria traded 80.973 million shares worth N969.537 million.
Zenith Bank transacted 4.275 million share worth N1.045 billion, while Nem Insurance accounted 33.644 million shares valueD at N153.080 million.
