NGX extends gains as Stanbic IBTC, others lift indices by N138b

The Nigerian Exchange Limited (NGX) extended gains to the third consecutive session yesterday as buying interest in Stanbic IBTC Holdings Plc, PZ Cussons others lift market capitalisation further by N138 billion.

The All Share Index (ASI) gained 252.06 points, representing a growth of 0.48 per cent to close at 52,621.19 points. Accordingly, market capitalisation rose by N138 billion to close at N28.653 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: Stanbic IBTC Holdings, PZ Cussons Nigeria, Unilever Nigeria, FBN Holdings (FBNH) and Zenith Bank.

Analysts at GTI Securities Limited, said, “Stock trading activities progressed positively for yesterday after commencing the week strong. Swaying sentiments could however occur in the nearest future as investors wait on the result of ongoing
Monetary Policy Committee (MPC) meeting to decide on future portfolio mix.”

Vetiva Dealings and Brokerage, said: “Market remained bullish today. However, we are likely going to see profit taking on recent gainers tomorrow.”

As measured by market breadth, market sentiment was positive as 33 stocks gained, while 15 others constituted the losers’ chart. Transnational Corporation (Transcorp) recorded the highest price gain, adding 9.85 per cent to close at N2.90 kobo.

Tripple Gee and Company followed with a gain of 9.83 per cent to close at N3.24 kobo. Unilever Nigeria rose by 9.7 per cent to close at N14.70 kobo.

University Press went up by 9.63 per cent to close at N2.05 kobo, while Chams Holding Company appreciated by 9.38 per cent to close at 35 kobo. Mutual Benefit Assurance and PZ Cussons appreciated by 8.82 per cent to close at 37 kobo and N18.50 kobo. FTN Cocoa increased by 8.33 per cent to close at 52 kobo. GlaxoSmithKline garnered 7.81 per cent to close at N6.90 kobo. FBN Holdings added 7.54 per cent to close at N13.55 kobo.

On the other hand, Chellarams led the losers’ chart by 9.94 per cent, to close at N1.63 kobo. SUNU Assurance followed with a decline of 9.43 per cent to close at 48 kobo, while C & I Leasing dropped 8.83 per cent to close at N3.20 kobo.

Japaul Gold & Ventures depreciated by 5.71 per cent to close at 33 kobo and Cadbury Nigeria declined by 5.48 per cent to close at N16.40 kobo. Mansard lost 4.76 per cent to close at N3. Caverton shed 4.76 per cent to close at N1.20 kobo.

NGXGroup depreciated by 2.59 per cent to close at N26. 30 kobo. Royal Exchange dropped 2.04 per cent to close at 48 kobo. United Capital lost 1.88 per cent to close at N13.05 kobo. African Prudential also shed 1.79 per cent to close at N5.50 kobo.

The total volume traded increased by 11.2 per cent to 350.974 million units, valued at N5.169 billion, and exchanged in 5,946 deals. Transactions in the shares of the United Bank for Africa (UBA) topped the activity chart with 62.448 million shares valued at N511.061 million. Zenith Bank followed with 58.999 million shares worth N1.583 billion, while Guaranty Trust Holding Company (GTCO) traded 31.707 million shares valued at N875.105 million.

Access Holdings traded 19.478 million shares valued at N203.077 million, while Transcorp sold 17.801 million shares worth N50.1 million.