Buy interest in  BUA Foods, 27 Others Lift Market Cap by N962.3bn

Kayode  Tokede

The stock market section of the  Nigerian Exchange Limited (NGX) yesterday’s trading session closed on a positive note as investors buying interest in BUA Foods Plc and 27 others added N962.3 billion to market capitalisation.

Specifically,market capitalisation of all listed companies appreciated by N962.3 billion to close at N96.134 trillion from N95.172 billion when the stock market opened for trading. 

Also, the NGX All-Share Index  gained 1,516.10 basis points,or 1.01 per cent to close at 151,456.91 basis points from 149,940.81 basis points.  As the Month-to-Date (MtD) and Year-to-Date (YtD) returns settled higher at +6.1per cent and +47.2per cent, respectively.

THISDAY learnt that BUA Foods gained 6.54per cent or N42.50 per share to close at N692.50 per share on the bourse. This brings  BUA Foods market capitalization to N12.5 trillion, to become the first listed company to cross the N12trillion mark.

Sectoral performance was positive as the NGX Consumer Goods Index (+3.5per cent), NGX Oil & Gas Index (+2.0per cent),NGX  Insurance Index (+0.4per cent), NGX Banking (+0.2per cent) and NGX Industrial Goods index (+0.2per cent) posted gains.

However, investor sentiment, as measured by market breadth, closed negative as 28 stocks advanced, while 30 declined. SCOA Nigeria emerged the highest price gainer of 7.74 per cent to close at N7.10, per share. Omatek Ventures followed with a gain of 7.48 per cent to close at N1.58, while Consolidated Hallmark Insurance advanced by 6.70 per cent to close at N4.78, per share.

BUA Foods rose by 6.54 per cent to close at N692.50, while Vitafoam Nigeria appreciated by 5.92 per cent to close at N94.00, per share.

On the other side, LivingTrust Mortgage Bank led others on the losers’ chart with 9.91 per cent to close at N4.00, per share. Conoil followed with a decline of 5.83 per cent to close at N190.70, while Africa Prudential shed 5.69 per cent to close at N14.10, per share.

Sovereign Trust Insurance lost 3.95 per cent to close at N3.65, while NPF Microfinance Bank depreciated by 3.75 per cent to close at N3.08, per share.

The total volume traded increased by 34.96 per cent to 551.925 million units, valued at N20.537 billion, and exchanged in 27,518 deals. Transactions in the shares of Fidelity Bank led the activity with 59.117 million shares worth N1.179 billion. VFD Group followed with an account of 39.309 million shares valued at N424.663 million, while Japaul Gold & Ventures traded 37.742 million shares valued at N94.941 million.

Access Holdings traded 37.364 million shares worth N950.063 million, while Guaranty Trust Holding Company (GTCO) traded 31.363 million shares worth N2.918 billion.

On market outlook, Afrinvest Limited said, “we expect the bullish performance to be sustained, underpinned by bargain hunting activities.”