Cutix, NCR, others lead stock market’s N4 billion gain

Gains by many blue-chip stocks on the equities sector of the Nigerian Exchange Limited (NGX), especially in that of Cutix and NCR, aided transactions to reopen in an upbeat yesterday, as the All –Share Index (ASI) rose by 0.02 per cent.

At the close of transactions yesterday, market capitalisation of listed equities increased by N4 billion to N19.923 trillion from N19.212 trillion reported the previous day.

Similarly, the ASI also grew by 8.0 basis points to 38220.01 points from 38212.01 reported on Friday.
Investors traded 282.824 million shares valued at N1.868 billion in 4788 deals against 209.191 million shares exchanged hands the previous day in 3240 deals.

A breakdown of yesterday’s transactions showed that Cutix Plc led the gainers’ table with 10 per cent to close at N3.30 kobo while NCR Plc followed with a gain of 9.69 per cent to close N2.49 kobo. Regal Insurance added 9.82 per cent to close at N0.46 kobo.

UAC Property gained 9.30 per cent to 94 kobo. Wapic Insurance increased by 9.26 per cent to close at N0.59 kobo. On the contrary, Redstarex topped losers’ chart, shedding 9.81 per cent to close at N3.31 kobo. ABC Transport trailed with a loss of 8.11 per cent to close at N0.34 kobo.

NPF Microfinance Bank declined by 6.98 per cent to close at N1.60 kobo. Presco Plc dipped by 6.04 per cent to close at N70. Chams Plc decreased by 4.76 per cent to close at N0.20 kobo.

Analysts at Afrinvest said: “In the coming trading session, we expect to see profit-taking activities dominating the market in the absence of any positive catalyst.”

On the activity chart, Fidelity Bank was the most active stock during the day, exchanging 28.094 million shares valued at N64.532 million. Wema Bank Plc followed, accounting for 19.637 million shares cost N14.419 million, Universal Insurance traded 18.025 million shares valued at N3.605 million.

FCMB group exchanged a total of 14.823 million shares worth N45.850 million. Sovereign Trust Insurance also traded 14.409 million shares cost N3.884 million. .