Trading on the stock market of the Nigerian Exchange Limited (NGX) edged a positive performance in yesterday’s session, as the All-Share Index rose marginally by 0.04 per cent over investors renewed interest in Dangote Cement Plc and 10 others.
The All Share Index (ASI) rose by 15.88 basis points or 0.04 per cent to close at 43,477.48 basis points from 43,461.60 basis points it opened for trading.
Accordingly, investors gained N9 billion in value as market capitalisation went up to N23.681 trillion from N23.672trillion it closed the previous day.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Nigerian Aviation Handling Company (NAHCO), United Bank for Africa (UBA), Royal Exchange and Champion Breweries.
As measured by market breadth, market sentiment was slightly positive, as 12 stocks gained relative to 11 losers. Unity Bank recorded the highest price gain of 9.09 per cent to close at 48 kobo, per share. Linkage Assurance followed with a gain 7.69 per cent to close at 42 kobo, while Royal Exchange went up by 7.32 per cent to close at 88 kobo, per share.
Chams went up by 4.35 per cent to close at 24 kobo, while Mutual Benefits Assurance appreciated by 3.85 per cent to close at 27 kobo, per share. On the other hand, Honeywell Flour Mills led the losers’ chart by 9.09 per cent to close at N2.00, per share. Prestige Assurance followed with a decline of 8.70 per cent to close at 42 kobo, while Presco went down by 6.15 to close at N120.50, per share.
Jaiz Bank lost 6.00 per cent to close at 94 kobo, while Oando shed 4.41 per cent to close at N3.90, per share.
The total volume traded declined by 46.6 per cent to 133.405 million units, valued at N1.811 billion, and exchanged in 3,078 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 30.381 million shares valued at N303.740 million. Oando followed with 16.770 million shares worth N64.167 million, while Zenith Bank traded 13.473 million shares valued at N268.151 million.
UBA traded 9.845 million shares valued at N69.024 million, while Guaranty Trust Holding Company (GTCO) transacted 8.966 million shares worth N157.715 million.
According to analysts at InvestmentOne Research, “The equities market closed up today due to the gains recorded in the Industrial and Banking sectors.
“Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.””
SOURCE: THISDAY
