NGX sustains positive sentiments as indices rise further by N17 billion

Buying interests in Guaranty Trust Holding Company (GTCO) and eight stocks aided the Nigerian Exchange Limited (NGX) to sustain positive sentiments yesterday, as market capitalisation rose further by N17 billion.

At the close of trading yesterday, the All Share Index (ASI) rose by 31.43 absolute points, representing a gain of 0.06 per cent to close at 54,936.11 points. Also, investors gained N17 billion in value as market capitalisation went up to N29.927 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guaranty Trust Holding Company (GTCO), Nigerian Exchange Group, Fidelity Bank, FBN Holdings (FBNH) and Transnational Corporation (Transcorp).

Analysts at Afrinvest Limited said: “In the penultimate trading session, we expect muted performance on the bourse, on the back of weak investor sentiment.”

As measured by market breadth, market sentiment was negative, as 14 stocks lost relative to nine gainers. GTCO and Wapic Insurance recorded the highest price gain of 2.44 per cent each to close at N25.50 and 42 kobo.

Linkage Assurance followed with a gain of 2.22 per cent to close at 46 kobo, per share. Lasaco Assurance rose by 2.04 per cent to close at N1.00, while Transcorp appreciated by 1.56 per cent to close at N1.30, per share.

Fidelity Bank gained 1.35 per cent to close at N5.27 kobo while FBN Holdings garnered 46 per cent to close at N10.95 kobo. NGXGroup appreciated by 36 kobo to close at N28. First City Monument Bank also advanced by 25 per cent to close at N4.07 kobo.

On the other hand, NCR Nigeria led the losers’ chart by 9.69 per cent to close at N2.61, per share. FTN Cocoa processors followed with a decline of 6.90 per cent to close at 27 kobo, while Japaul Gold & Ventures shed 6.67 per cent to close at 28 kobo, per share.

Cutix lost 4.95 per cent to close at N2.11, while Consolidated Hallmark Insurance shed 4.62 per cent to close at 62 kobo, per share. Academy Press lost four per cent to close at N1.20 kobo. Livestock Feeds shed 2.91 per cent to close at N1.

United Capital depreciated by 2.46 per cent to close at N11.90 kobo.
Honeywell Flourmills dropped 2.22 per cent to close at N2.20 kobo. CWG declined by 2.02 per cent to close at 97 kobo.

African Prudential lost 1.69 per cent to close at N5.80 kobo. Wema Bank depreciated by 1.23 per cent to close at N4. Vitafoam also fell by 1.06 per cent to close at N18.60 kobo.

The total volume traded rose by 5.0 per cent to 134.151 million units, valued at N1.330 billion, and exchanged in 2,479 deals. Transactions in the shares of Transcorp topped the activity chart with 28.122 million shares valued at N35.932 million.

United Bank for Africa followed with 21.232 million shares worth N170.415 million, while Courteville Business Solutions traded 19.123 million shares valued at N8.608 million. GTCO traded 13.551 million shares valued at N336.904 million, while FBNH transacted 8.126 million shares worth N88.998 million.