Investors’ wealth appreciates by N1b despite gloomy outlook
The Nigerian Exchange Limited (NGX) sustained a rising profile at the end of yesterday’s transactions, as investors’ wealth appreciated further by N1 billion.
The volume of shares traded also increased by 23.345 million as investors exchanged 100 million shares valued at N1.3 billion in 3186 deals against 76.748 million shares worth N1.3 billion that changed hands in 3262 deals on Monday.
Specifically, at the close of trading yesterday, the all share index grew by 1.22 basis points to 49416.18 points from 49414.96 points reported on Monday.
Market capitalisation of listed equities increased by N1 billion to N26.915 trillion from N26.914 trillion reported the previous day.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Vitafoam, Ardova, Zenith Bank, UPDC Real Estate and Dangote Sugar Refinery.
Vetiva Dealings and Brokerage said: “ Once again GTCO closed as the most traded counter, while overall activity level remains minimal and we are likely to see these lukewarm sessions throughout the week, as investors wind down for the holiday season.”
UPDC REIT led the gainers’ chart, appreciating by 8.62 per cent to close at N3.15 kobo, Royal Exchange followed with a gain of 5.95 per cent to close at 89 kobo. Ardova Plc added 4.19 per cent to close at N17.40 kobo. Vitafoam Nigeria Plc gained 3.57 per cent to close at N21.75 kobo. Custodian Investment added 2.75 per cent to close at N5.60 kobo.
CHI Plc added 1.64 per cent to close at 62 per cent. Dangote Sugar Refinery appreciated by 1.29 per cent to close at N15.70 kobo. Zenith Bank gained 1.04 per cent to close at N24.25 kobo. Fidelity Bank garnered 94 per cent to close at N4.29 kobo. Eternaoil advanced by 83 per cent to close at N6.10 kobo. GTCO also added 23 kobo to close at N21.65 kobo.
Neimeth International Pharmaceutical topped the losers chart, shedding 9.66 per cent to close at N1.31 kobo, while Scoa Plc trailed with a drop of 9.41 per cent to close at 77 kobo. UPDC depreciated by 7.07 per cent to close at 92 kobo. RTBriscoe dipped by 6.9 per cent to close at 27 kobo. Chams Plc fell by 4.55 per cent to close by 27 kobo.
Sunu Assurance lost 3.33 per cent to close at 29 kobo. Fidson shed 2.69 per cent to close at N9.05 kobo. AIICO Insurance depreciated by 1.82 per cent to close at 54 kobo. Ecobank TransNational Incorporated dropped 1.79 per cent to close at N11.
FBN Holdings fell by 1.38 per cent to close at N10.70 kobo. International Breweries shed 1.10 per cent to close at N4.50 kobo. Nigerian Aviation Handling Company (NAHCO) also dropped 85 kobo to close at N5.85 kobo.
GTCO Plc was the most active stock during the day, exchanging 16.438 million shares valued at 354.748 million, Chi Plc followed, accounting for 9.260 million shares worth N5.447 million.
United Bank for Africa traded 7.119 million share worth N52.462 million, FTNCocoa exchanged 7.096 million shares valued at N2.014 million while AccessCorp traded 5.265 million shares worth N45.159 million.
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