Equities Investors Gain As Bulls Persist At NGX

At the Nigerian Exchange Limited on Wednesday, equities trading maintained the positive momentum as the benchmark index closed 0.36 per cent stronger to settle at 59,323.95 basis points.

Specifically, mid-and large-cap stocks such as Conoil, MRS Oil, BUA Cement, Stanbic IBTC Holdings, Presco, Access Holdings, First Bank of Nigeria Holdings, Nigeria Breweries and Dangote Cement were the toast of investors as their respective share prices rose by 9.49 per cent, 7.64 per cent, 4.65 per cent, 1.98 per cent, 0.45 per cent, 0.34 per cent, 0.31 per cent, 0.10 per cent, and 0.20 per cent.

Accordingly, the Month-to-Date and Year-to-Date gains increased to +6.4 per cent and +15.8 per cent, respectively.

Giving the positive reading session on Wednesday, equities investors cumulatively earned N116.49 billion as the market capitalisation settled at N32.30 trillion.

As measured by market breadth, market sentiment was positive as 43 tickers gained relative to 25 losers. On the performance board, Afro Media and eTranzact recorded the most significant gains of the day having appreciated in share value by 10.0 per cent and 9.9 per cent, respectively, while Jaiz Bank and Meyer topped the losers’ list as their share prices dipped by 10.0 per cent and 9.9 per cent, respectively.

Also, sectorial performance was positive, as three out of the five indices tracked closed in the green zone; the NGX Insurance, NGX Oil/Gas, and NGX Industrial Goods indices rose by 1.93 per cent, 1.84 per cent, and 1.84 per cent, respectively.

On the flip side, the NGX Banking and NGX Consumer Goods indexes fell by 0.60 per cent and 0.11 per cent, respectively.

However, activities at the local bourse remained unimpressive as analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 31.84 per cent.

A total of 643.03 million shares valued at N6.11 billion were exchanged in 7,806 deals.

Guaranty Trust Bank Holding Company led the volume and value charts with 44.86 million units traded in deals worth N1.44 billion.

(Tribune)

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