Stock Market Maintains Positive Trend, Up N253.5bn
Kayode Tokede
The stock market of the Nigerian Exchange Limited (NGX) yesterday extended the bullish run as capitalisation gained N253.5 billion on investors’ renewed interest in Airtel Africa Plc, Dangote Cement Plc and 13 others.
The NGX All Share Index (ASI) rose by 465.34 basis points or 1.07 per cent to close at 43,942.82 basis points from 43,477.48 basis points it closed for trading.
Accordingly, investors gained N253 billion in value as market capitalisation went up to N23.934 trillion from N23.681trillion
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: Dangote Cement, Airtel Africa, MRS Nigeria Oil, Nigerian Exchange Group (NGX Group) and Nigerian Aviation Handling Company (NAHCO).
However, market breadth remained slightly negative as 15 stocks posted gains while 16 stocks posted declines. MRS Nigeria Oil recorded the highest price gain of 9.83 per cent to close at N12.85, per share. Courteville Business Solutions followed with a gain 8.70 per cent to close at 50 kobo, while Unity Bank rose by 8.33 per cent to close at 52 kobo, per share.
Dangote Cement went up by 7.77 per cent to close at N238.50, while Mutual Benefits Assurance appreciated by 3.70 per cent to close at 28 kobo, per share. On the other hand, Julius Berger Nigeria led the losers’ chart by 9.81 per cent to close at N21.15, per share. Cadbury Nigeria followed with a decline of 9.69 per cent to close at N10.25, while Prestige Assurance went down by 9.52 to close at 38 kobo, per share.
Multiverse Mining & Exploration lost 9.41 per cent to close at N3.85, while Wapic Insurance shed 5.71 per cent to close at 33 kobo, per share.
Meanwhile, the total volume traded rose by 203.59 per cent to 405.005 million shares, worth N3.097 billion, and traded in 3,188 deals.
Transactions in the shares of Sterling Bank topped the activity chart with 171.155 million shares valued at N231.1.292 billion.
Access Holdings followed with 78.765 million shares worth N634.062 million, while Transnational Corporation of Nigeria (Transcorp) traded 36.764 million shares valued at N38.611 million.
Guaranty Trust Holding Company (GTCO) traded 23.878 million shares valued at N420.269 million, while Zenith Bank transacted 17.170 million shares worth N343.120 million.
