NGX sustains rising profile as gains in 19 stocks lift index by 0.09%

Despite price losses that outweighed gains, transactions on the equities sector of the Nigerian Exchange Limited (NGX) closed on an upward note, yesterday, as gains in 19 stocks lifted the All-Share Index (ASI) further by 0.09 per cent.

Specifically, market capitalisation of listed equities increased by 0.09 per cent to close at N25.385 trillion from N25.361 trillion recorded on Tuesday. Similarly, the ASI appreciated by 44.43 basis points to 47109.25 points from 47064.82 traded on Tuesday.

Analysts at the Vetiva Dealing and Brokerage said: “Today’s (yesterday) session had stocks yielding to the sell pressure, hence, the negative close across board. We anticipate a mixed session tomorrow, as investors begin to take advantage of the price dip in some of these counters.’”

Investors traded 318.269 million shares valued at N8.27 billion in 4965 deals against 274.206 million shares worth N3.817 billion in 5331 deals. 19 stocks appreciated in price while 29 recorded price depreciation.

Learn Africa emerged the day’s highest price gainer, adding 9.94 per cent to close at N1.99 kobo. Scoa Plc followed with a gain of 9.55 per cent to close at N1.95 kobo. RTBriscoe increased by 8.70 per cent to close at 50 kobo. Veritas Kapital gained 8.70 per cent to close at 25 kobo. Japaul Gold and Ventures appreciated by 8.57 per cent to close at 38 kobo.

Royal Exchange gained 8.43 per cent to close at 90 kobo while UACN appreciated by 6.52 per cent to close at N9.80 kobo. NEM gained 5.14 per cent to close at N4.09 kobo.

Multiverse garnered 4.76 per cent to close at 22 kobo. Jaiz Bank gained 4.48 per cent to close at 70 kobo. Stanbic IBTC appreciated by 2.21 per cent to close at N34 .65 kobo. Unity Bank added 2.00 per cent to close at 51 kobo.

Conversely, UPDC recorded the highest loss during the day, shedding 6.36 per cent to close at N1.03 kobo.
Regal Insurance trailed with a loss of 5.13 per cent to close at 37 kobo. C&I Leasing depreciated by 4.7 per cent to close at N3.60 kobo. Prestige Insurance lost 4.44 per cent to close at 43 kobo.

Chams Plc dipped 4.35 per cent to close at 22 kobo. Livestock lost 3.50 per cent to close at N1.93 kobo. ABC Transport shed 3.03 per cent to close at 32 kobo. FTN Cocoa depreciated by 2.78 per cent to close at 35 kobo.

Mansard declined by 2.08 per cent to close at five kobo. Honeywell flourmills also dropped 2.06 per cent to close at N3.33 kobo.

The trading result further showed that Access Bank was the most active stock during the day, exchanging 47.884 million shares valued at N496.246 million in 221 deals.

MTN Nigeria Plc followed with an account of 21.697 million shares valued at N4.339 billion in 223 deals Zenith Bank exchanged 17.293 million shares worth N464.307 million in 276 deals.

United Bank for Africa sold a total of 16.852 million shares valued at N143.132 million in 180 deals, Nigerian Breweries traded a total of 16.836 million shares cost N800.796 million.