UBA Leads As NGX Rebounds By 0.27%

Equities trading at the Nigerian Exchange Limited turned bullish on Thursday as the benchmark index rebounded by 0.27 per cent Thursday amid renewed bullish activity.

Following this, the All-Share Index (ASI) closed at 63,930.72 basis points.

Consequently, the Month-to-Date and Year-to-Date returns increased to +4.9 per cent and +24.7 per cent, respectively.

Gains in Zenith Bank, Geregu Power and Guaranty Trust Holding Company pushed the broader index into positive territory as their share prices advanced by 0.16 per cent, 5.71 per cent and 0.57 per cent, respectively.

Equities investors, therefore, gained N94.46 billion as the market capitalisation settled higher at N34.81 trillion.

As measured by market breadth, market sentiment was positive, as 41 tickers gained relative to 21 losers. On the performance, University Press and Academy Press L (+10.0%) and ACADEMY (+10.0%) recorded the highest gains of the day having appreciated in share value by 10 per cent, respectively, while Courtville and FTN Cocoa Processor topped the losers’ list after their respective share prices dipped by 9.9 per cent and 9.7 per cent.

Performance across sub-sectors mirrored the positive benchmark index, as all of the five sub-sector gauges tracked closed in green. The NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial indices climbed by 0.59 per cent, 1.19 per cent, 0.30 per cent, 0.41 per cent, and 0.01 per cent, respectively.

Meanwhile, analysis of market activities at the local bourse on Thursday showed trade turnover settled higher relative to the previous session, with the value of transactions up by 79.21 per cent.

A total of 1.36 billion shares valued at N18.07 billion were exchanged in 7,179 deals.

United Bank for Africa (UBA) led the volume and value charts with 961.50 million units traded in deals worth N13.31 billion.

(Tribune)

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