Positive Momentum Resurfaces as Stock Market Gains N279.37bn

Kayode Tokede 

Investors’ positive sentiment resurfaced on the Nigerian Exchange Limited yesterday as gains in Guaranty Trust Holding Company Plc (GTCO), and Oando Plc lifted the market capitalisation by N279.37 billion.

As GTCO appreciated by 1.98per cent to close at N92.80 per share, stock price of Oando gained 9.50per cent to close at N49.00 per share, the market capitalisation closed for trading at N89.343 trillion, about N279.37 billion or 0.31per cent  from N89.063 trillion it opened for trading. 

Consequently, the NGX All-Share Index closed for trading at 141,149.04 basis points, representing an increase of 432.94basis points or 0.31per cent from 140,716.10 basis points the stock market closed for trading the previous day.

The 0.31 per cent increase in NGX ASI yesterday drives the Month-to-Date (MtD) and Year-to-Date (YtD) returns performance to +0.6per cent and +37.1per cent, respectively.

Sectoral performance was mixed as the NGX Banking advanced by one per cent, NGX Oil & Gas gained 0.7per cent and NGX Consumer Goods appreciated by 0.3 per cent, while the NGX Insurance dipped by 0.4 and the NGX Industrial Goods index closed flat.

As measured by market breadth, the stock market sentiment was positive as 31 stocks  gained relative to 21 losers.

The data by NGX revealed that Mecure Plc led the gainers table,  advancing by 9.89 per cent to close at N26.10 per share, followed by Oando that gained 9.50 per cent to close at N49.00 per share.

McNichols appreciated by 9.31 per cent  to close at N3.64 per share; Chams Plc gained 9.24 per cent to close at N3.43 and stock price of Legend Internet Plc   grew by 9.18 per cent to close at N5.35 per share.

On the losers chart, Eterna Plc depreciated by 10 per cent to close at N27.90 per share, as Sovereign Insurance Plc dipped by 4.84 per cent to close at N2.95 per share.

As  TIP Plc dropped by 3.84 per cent to close at N12.02 per share, Caverton  Plc stock price fell by 3.76 per cent to close at N6.40 per share. In addition, the stock price of Fidson Healthcare Plc stock price fell by 3.72 per cent to close at N41.40 per share on NGX.

The total volume traded increased by 11.37x to 5.47 billion units, valued at N419.73 billion and exchanged in 20,399 deals. Aradel Holdings Plc was the most traded stock by volume and value at 693.25 million units and N388.20 billion, respectively.