Buy Interest in BUA Cement, Others Lift Stock Market by N14bn

Kayode Tokede

Investors renewed interest in BUA Cement Plc, others lifted the stock market of the Nigerian Exchange Limited (NGX) by N14billion as trading session witnessed mixed albeit.

The 3.1 per cent gain in BUA Cement contributed to the NGX All-Share Index appreciation of 0.02 per cent to close at 49,171.70 basis points, as investors gained N14 billion in value as market capitalisation went up to N26.531 trillion.

Accordingly, the Month-to-date and Year-to-Date returns settled at -1.3per cent and +15.1 per cent, respectively.

The stock market breadth closed negative as seven stocks posted gains while 20 stocks posted declines. Chams Plc recorded the highest price gain of 8.00 per cent to close at 27 kobo, per share.

Ardova followed with a gain 7.42 per cent to close at N13.75, while Sovereign Trust Insurance went up by 3.57 per cent to close at 29 kobo, per share.

BUA Cement went up by 3.07 per cent to close at N52.00, while Jaiz Bank appreciated by 2.07 per cent to close at 76 kobo, per share.

On the flip side, Japaul Gold & Ventures led the losers’ chart by 10 per cent to close at 27 kobo, per share. Royal Exchange followed with a decline of 9.80 per cent to close at 92 kobo, while  Consolidated Hallmark Insurance went down by 8.62 to close at 52 kobo, per share.

R.T. Briscoe Nigeria lost 8.57 per cent to close at 32 kobo, while Fidson Healthcare shed 7.54 per cent to close at N9.20, per share.

The total volume traded declined by 27.05 per cent to 101.569 million shares, worth N1.198 billion, and traded in 3,981 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 14.337 million shares valued at N259.043 million. Zenith Bank followed with 11.556 million shares worth N228.905 million, while FBN Holdings (FBNH) traded 6.275 million shares valued at N61.233 million.

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