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Equities erase loss with N11bn gain

Trading activities on the floor of the Nigerian Exchange Limited (NGX), yesterday, closed positive to upturn previous day’s loss as bulls regained grip following gains recorded by blue chip firms. The bourse recorded 16 gainers against 12 losers to close the market breath positive.

The All-Share Index appreciated by 44.96 basis points or 0.05 per cent to close at 38,874.13 index points as against 38,852.69 recorded the previous trading session, while market capitalisation of equities grew by N11 billion from N20,2432 trillion the previous day to N20.253 trillion as market sentiment returned to positive territory. Meanwhile, a turnover of 125.79 million shares exchanged in 2,990 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume), with 24.09 million shares exchanged by investors in 903 deals. Volume in the sub-sector was largely driven by activities in shares of Access Bank Plc and Zenith Bank Plc. Also, the insurance sub-sector, boosted by activities in the shares of Mutual Benefits Assurance Plc and Veritas Kapital Assurance Plc, followed with a turnover of 23.43 million shares in 131 deals.

Further analysis of the day’s trading showed that in percentage terms, NACHO Plc topped the day’s gainers’ table by 10 per cent to close at N3.52 per share, while PharmaDeko Nigeria Plc followed with 9.55 per cent to close at N1.95 per share. Veritas Kapital Assurance Plc added 9.52 per cent to close at 23 kobo per share. On the flip side, Sovereign Trust Insurance Plc led the losers by 4.17 per cent to close at 23 kobo per share, while UPDC Nigeria Plc shed 3.68 per cent to close at N1.83 per share. ETI Plc trailed with 2.83 per cent to close at N5.15 per share.

 

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