Despite losses by many equities, transactions at the Nigerian Exchange Limited (NGX) reopened in an upward note yesterday as market capitalisation appreciated by N29 billion, amid renewed bargain hunting in MTN Nigeria and 12 stocks.
At the close of transactions yesterday, market capitalisation of listed equities increased by 0.05 per cent to N55.536 trillion from N55.51 trillion reported the previous day.
The all-share index also appreciated by 50.85 basis points to 98176.58 points from 98125.73 points traded on Friday.
Yesterday’s appreciation was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria, TransNational Corporation of Nigeria (Transcorp), Berger Paints, PZ Cussons, Cornerstone Insurance, MC Nicholas, Nigerian Breweries, AIICO insurance and Nigerian Breweries.
On what will shape the market in the next trading session, analysts at Vetiva Dealings and Brokerage said: “Despite the green close, market participants maintained their risk-off sentiment in today’s session, as they await the outcome of the interest rate decision from the CBN; that said, we anticipate another tepid session in the market on Tuesday.”
On the price movement chart, 28 stocks depreciated in price while 13 stocks constituted the gainers’ chart. MCNicholas emerged the day’s highest price gainer, adding 10 per cent to close at N1.10 per unit, Berger Paint followed with a gain of 9.72 per cent to close at N13.55 kobo.
Regal Insurance added 9.68 per cent to close at N0.34 per share, Cornerstone improved by five per cent to close at N2.10 kobo.Unity Bank appreciated by 3.13 per cent to close at N1.65 kobo while Transcorp Hotel added 3.03 per cent to close at N94.79 per cent. MTN garnered 2.68 per cent to close at N230.
PZ Cussons gained 1.83 per cent to close at N22. AIICO appreciated by 1.01 per cent to close at N1. Nigerian Breweries also added 43 per cent to close at N23.10 kobo.
On the other hand, Champion Breweries topped losers’ chart, dropping 10 per cent to close at N2.97 kobo, Sovereign Trust Insurance trailed with a drop of 9.76 per cent to close at 37 kobo.
Chams Plc dipped by 9.64 per cent to close at N1.50 kobo, RTBriscoe fell by 9.62 per cent to close at 47 kobo while Jaiz Bank dipped by 9.57 per cent to close at N2.08 kobo. Deap Capital declined by 9.43 per cent to close at N48 kobo.
UPDC depreciated by 7.14 per cent to close at N1.30 kobo. Honeywell Flourmills fell by 6.34 per cent to close at N3.10 kobo. Livestock Feeds also dropped 6.29 per cent to close at N1.64 kobo.
Volume of shares traded also went up by 264.89 million representing 188.17 per cent as investors traded 405.661 million shares valued at N6.688 billion in 8439 deals against 140.771 million shares cost N9.416 billion exchanged hands the previous day in 6934 deals.
Transaction in the shares of AccessCorp led market activities with 201.351 million shares valued at N3.41 billion, Transnational Corporation of Nigeria followed with account of 38.21 million shares worth N435.75 million.
Zenith Bank traded 15.26 million valued at N484.71 million, Nigerian Breweries traded 13.735 million shares costs N316.277 million while Jaiz Bank exchanged 13.679 million shares worth N30.222 million.
