Monday, 6th December 2021
<To guardian.ng
Search
Breaking News:

Cadbury, University Press, others lift NGX index by 0.4 per cent

By Helen Oji
29 October 2021   |   4:09 am
Equities market, yesterday, reversed losses to close on 0.4 per cent high, as occasioned by gains in major blue chip companies, especially Cadbury Nigeria and University Press.

Nigerian Exchange Group (NGX)

Equities market, yesterday, reversed losses to close on 0.4 per cent high, as occasioned by gains in major blue chip companies, especially Cadbury Nigeria and University Press.

The All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) appreciated by 171.55 absolute points, representing an increase of 0.41 per cent, to close at 41,961.14 points. Similarly, the overall market capitalisation value gained N89 billion to close at N21.898 trillion.

The improved performance was driven by price appreciation in large and medium capitalised stocks, which are: Nigerian Breweries, Guinness Nigeria, MTNN, Cadbury Nigeria and Lafarge Africa.

Analysts at Vetiva Dealing and Brokerage said: “The market benefited from the better than expected earnings’ results in the consumer goods space, as gains recorded in the sector coupled with increased buy interest amid investors taking position ahead of upcoming corporate results.

“We expect the performance of the index in the coming sessions to be largely directed by the quality of results released into the market, while investors also take profit on recent gainers.”

Furthermore, market breadth closed positively recording 22 gainers and 13 losers. Cadbury Nigeria, Guinness Nigeria and University Press recorded the highest price gain of 10 per cent each, to close at N8.80 kobo, N33.00 kobo and N1.98 kobo. AIICO Insurance followed with a gain of 9.71 per cent to close at N1.18 kobo while Nigerian Breweries went up by 6.37 per cent to close at N54.25 kobo.

Ecobank Transnational Incorporated rose by 6.21 per cent to close at N8.55, while UPDC Real Estate Investment Trust gained 6.21 per cent to close at N8.55 kobo. On the other hand, AXA Mansard Insurance led the losers’ chart by 6.02 per cent to close at N2.34 kobo.

Japaul Gold and Ventures followed with a decline of 4.44 per cent to close at 43 kobo, while Courteville Business Solutions lost 4.35 per cent to close at 44 kobo.

Mutual Benefits Assurance lost 3.45 per cent to close at 28 kobo, while NEM Insurance and Lasaco Assurance shed 2.50 per cent each to close at N1.95 and N1.17 respectively, per share.

Also, the total volume of trades rose by 96.38 per cent to 558.889 million units, valued at N4.404 billion, and exchanged in 4,683 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 75.459 million shares valued at N898.013 billion.

AIICO Insurance followed with 18.418 million shares worth N17.810 million, while ETI traded 17.320 million shares valued at N137.322 million.

Transnational Corporation of Nigeria (Transcorp) traded 15.207 million shares valued at N15.492 million, while Fidelity Bank transacted 14.029 million shares worth N38.525 million.