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Positive sentiments persist on NGX as indices appreciate further by N12b

By Helen Oji
10 March 2023   |   6:23 am
The bulls upstaged the bears on the equities sector of the Nigerian Exchange Limited (NGX) yesterday, as expectation of robust full-year earnings lifted capitalisation further by N12 billion.

[FILES] Nigerian Exchange Limited (NGX). Photo/FACEBOOK/ ngxgroup

The bulls upstaged the bears on the equities sector of the Nigerian Exchange Limited (NGX) yesterday, as expectation of robust full-year earnings lifted capitalisation further by N12 billion.

At the close of trading yesterday, market capitalisation of listed equities increased by 0.04 per cent to N30.409 trillion from N30.397 trillion reported on the previous day, while the All -share index also rose by 21.00 basis points to 55822.14 points from 55801.14 points traded on Wednesday.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Champion Breweries, GTCO, Living Trust and TransNational Corporation (Transcorp)

On the price movement chart, 12 stocks recorded price appreciation, while 19 constituted the losers chart.

Transcorp led the gainers’ chart, adding 8.66 per cent to close at N1.38 kobo, while Royal Exchange followed with a gain of 5.63 per cent to close at 75 kobo. Champion Breweries gained 4.60 percent to close at N5. Living Trust added 4.21 per cent to close at N2.97 kobo.

Chams Plc was up by 4.0 per cent to close at 26 kobo per share. Japaul Gold gained 3.57 per cent to close at 29 kobo. Lasaco garnered two per cent to close at N1.02 kobo.

CHI appreciated by 1.56 per cent to close at 65 kobo. Jaiz Bank added 1.10 per cent to close at 92 kobo. Dangote cement garnered 1.05 per cent to close at N288. GTCO also advanced by 57 per cent to close at N26.55 kobo.

However, NCR Plc and Conoil topped losers chart, shedding 9.93 per cent to close at N2.63 kobo and N43.20 kobo respectively while UPL followed with a loss of 9.0 per cent to close at N1.82 kobo.

Prestige Assurance dipped by 8.89 per cent to close at 41 kobo. Ardova Plc depreciated by 8.33 per cent to close at N15.95 kobo. FTN Cocoa and Livestock Feeds lost 7.14 per cent to close at 26 kobo and N1.04 kobo,ma while Sovereign insurance depreciated by 6.67 per cent to close at 28 kobo.

Eternaoil shed 5.56 per cent to close at N6.80 kobo. NGX Group also dropped 6.67 per cent to close at N28.85 kobo.

Volume of trades increased by 103.9 per cent as investors exchanged 311.476 million shares valued at N3.093 billion in 3627 deals against 152.742 million shares worth N3.572 billion recorded in the previous day in 3293 deals.

Transactions in the shares of Transcorp led activity during the day, exchanging 179.841 million shares worth N239.244 million, GTCO Plc followed with 41.396 million shares valued at N1.098 billion. Zenith Bank Plc traded 18.492 million shares worth N480.368 million, Stanbic IBTC exchanged 7.950 million shares worth N317.984 million, while Sterling Bank also traded 6.731 million shares valued at N10.100 million.