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NGX halts downtrend with N78bn gain

Activities on 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 0.39 per cent as market sentiments returned to gaining streaks following investors’ renewed optimism on undervalued stocks. Consequently, the All- Share Index gained 149.89 basis points or 0.39 per cent to close at 37,954.35 as against 37,804.46 recorded the previous day, while market capitalisation of equities appreciated by N78 billion or 0.39 per cent to close at N19.781 trillion from N19.703 trillion as market sentiment returned to the green zone. Meanwhile, a turnover of 167.41 million shares exchanged in 3,256 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 46.28 million shares exchanged by investors in 928 deals. Volume in the sub-sector was largely driven by activities in shares of UBA Bank Plc and Zenith Bank Plc. The insurance sub-sector boosted by activities in shares of Mutual Benefits Assurance Plc and Sovereign Trust Insurance Plc followed with a turnover of 36.37 million shares in 285 deals.

The number of gainers at the close of trading session was 20 while decliners closed at 15. Mutual Benefits Assurance Plc and Portland Paints Plc led the gainers’ table by 10 per cent each to close at 44 kobo and N2.64 per share respectively, while Learn Africa Plc followed with 3.96 per cent to close at N1.05 per share. Eterna Plc added 3.92 per cent to close at N7.95 per share. On the other hand, Juli Pharmacy Plc led the price losers’ table, dropping 9.56 per cent to close at N1.23 per share. AIICO Insurance Plc followed with 7.41 per cent to close at N1.00 per share while FG112034S2 trailed with a loss of 5.04 per cent to close at N91.52 per share.

 

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