NGX sustains positive sentiments as capitalisation rises further by N180b
The Nigerian Exchange Limited (NGX) continued in an upbeat mood yesterday, following gains in 28 stocks, causing market capitalisation to appreciate further by N180 billion.
Yesterday, the All Share Index (ASI) rose by 330.85 absolute points, representing a gain of 0.61 per cent to close at 54,646.38 points. Accordingly, investors gained N180 billion in value as market capitalisation went up to N29.769 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Geregu, BUA Foods, MRS, NGX Group, Nigerian Breweries, Unilever and Lafarge Wapco.
Market breadth closed positive as 28 stocks posted gains while 10 declined. MRS Oil Nigeria recorded the highest price gain of 9.88 per cent to close at N27.80, per share. McNichols followed with a gain of 9.09 per cent to close at 60 kobo, while BUA Foods rose by 8.87 per cent to close at N81.00, per share.
Cornerstone Insurance went up by 8.33 per cent to close at 65 kobo, while Transcorp Hotels appreciated by 7.44 per cent to close at N6.50, per share Royal Exchange gained 5.71 per cent to close at 74 kobo. Honeywell flourmills appreciated by 5.66 per cent to close at N2.24 kobo. Living Trust garnered 5.26 per cent to close at N3. Linkage Assurance appreciated by 4.65 per cent to close at 45 kobo. African Prudential advanced by 4.07 per cent to close at N6.40 kobo. NGX Group added 4.05 per cent to close at N27.
On the other hand, The Initiates Plc (TIP) led the losers’ chart by 9.09 per cent to close at 40 kobo, per share. Neimeth International Pharmaceuticals followed with a decline of 6.45 per cent to close at N1.45, while Consolidated Hallmark Insurance went down by 6.15 to close at 61 kobo, per share.
Veritas Kapital Assurance lost 4.76 per cent to close at 20 kobo, while AIICO Insurance shed 1.67 per cent to close at 59 kobo, per share. First City Monument Bank lost 1.15 per cent to close at N4.30 kobo. UPDC gained 99 per cent to close at N1. International Energy Insurance depreciated by 83 per cent to close at N1.19 kobo. PZ Cussons lost 49 per cent to close at N10.20 kobo. United Capital also shed 32 per cent to close at N15.45 kobo.
The total volume traded decreased by 4.12 per cent to 124.561 million shares, worth N1.807 billion, and traded in 2,600 deals. Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 32.420 million shares valued at N272.124 million. Courteville Business Solutions followed with 15.976 million shares worth N7.639 million, while Zenith Bank traded 11.526 million shares valued at N292.131 million.
Guaranty Trust Holding Company (GTCO) traded 8.620 million shares valued at N217.946 million, while Chams Holding Company transacted 6.723 million shares worth N1.742 million.