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NGX closes in green as investors gain N104.5bn

Equities trading at the Nigerian stock market on Wednesday was bullish as the Nigerian Exchange Limited (NGX) All-Share Index rose by 0.4 per cent to close at 49,836.51 points. Bargain-hunting in Guinness (+9.62 per cent), BUAFOODS (+4.5 per cent), FBNH (+2.29 per cent), SterlingBank (+1.97 per cent) and ACCESSCORP (+1.84 per cent) contributed to the positive performance. Accordingly, the month-todate loss moderated to -1.1 per cent, while the Year-to-Date gain increased to +16.7 per cent, while the market capitalisation gained N104.52 billion to close at N26,880.19 trillion. The total volume traded decreased by 191.7 per cent to 367.34 million units, valued at NGN3.24 billion, and exchanged in 3,725 deals. STERLNBANK was the most traded stock by volume at 162.45 million units, while MTNN was the most traded stock by value at NGN873.29 million.

Sectoral performance was broadly positive, as the Consumer Goods (+1.8 per cent), Banking (+0.6 per cent), Industrial Goods (+0.4 per cent), and Oil & Gas (+0.3 per cent) indices advanced, while the Insurance (-1.0 per cent) index closed in the red. As measured by market breadth, market sentiment was positive as 20 stocks gained relative to 11 losers. GUINNESS led the gainers table with a 9.88 per cent to close at N87.90 kobo per share.

CAVERTON followed with 9.62 per cent gain to close at N1.14 kobo per share. Transcorp made a 8.65 per cent gain to sell at N1.13 kobo per share. NGXGroup was up by 6.43 per cent to close at N22.35 kobo per share while the share price of Lasaco appreciated by 5.1 per cent to close at N1.03 kobo per share. On the other hand, CHI Plc (-7.7 per cent) and UNILEVER (-7.2 per cent) recorded the most significant losses of the day.

 

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