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Equities rebound with marginal gain

Activities at the Nigerian Exchange Limited (NGX) closed positive, yesterday, reversing prior days of negative sentiments following gains recorded by blue chip stocks. The key market performance measures, the NGX All Share Index and market capitalisation, rose by 0.02 per cent as market sentiments returned to gaining streaks following investors’ renewed optimism on undervalued stocks. Consequently, the All- Share Index gained marginally by 7.38 basis points or 0.02per cent to close at 47,163.94 index points as against 47,156.56 recorded the previous day while the market capitalisation of equities appreciated by N4 billion or 0.02 per cent to close at N25.418 trillion from N25.414 trillion as market sentiment returned to the green zone. Meanwhile, a turnover of 267.48 million shares exchanged in 4,099 deals was recorded in the day’s trading.

The banking sub-sector was the most active (measured by turnover volume); with 97.98 million shares exchanged by investors in 864 deals. Volume in the sub-sector was largely driven by activities in shares of Fidelity Bank Plc and GTCO Plc.The premium sub-sector boosted by activities in shares of Access Bank Plc and UBA Plc followed with a turnover of 90.57 million shares in 1,475 deals.

The number of gainers at the close of trading session was 16, while decliners closed at 17. CAP Plc led the gainers’ table by 10 per cent to close at N19.80 per share, while Learn Africa Plc followed with a gain of 9.60 per cent to close at N2.17 per share. Champion Breweries Plc added 9.09 per cent to close at N2.04 per share. On the other hand, FG152028S1 led the price losers’ table, dropping 14.14 per cent to close at N101.00 per share. FCMB Plc followed with 8.72 per cent to close at N3.35 per share, while Mutual Benefits Assurance Plc trailed with a loss of 7.41 per cent to close at 25 kobo per share.

 

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