Positive Sentiment Lift Market Cap by N53.12bn

Kayode Tokede

Following a three-day consecutive profit-taking by investors, positive sentiments resurfaced on the stock market segment of the Nigerian Exchange Limited (NGX), yesterday amid N53.12bilion increase in market capitalisation.

The 3.1 per cent increase in Dangote Cement Plc, 25 others contributed to the stock market 0.09  per cent increase in market capitalisation from N62.257 trillion to N62.31 trillion.

The NGX All-Share Index (ASI) gained 87.11 basis points, or 0.09 per cent to close at 102,183.06 basis points with the stock market Year-to-Date return settling at -0.7per cent.

On sectors, the NGX Industrial Goods index (+1.4per cent), NGX Banking index (+0.2 per cent, and NGX Consumer Goods index  (+0.2per cent) advanced, while the NGX  Oil & Gas index (-2.5per cent) and NGX Insurance index (-1.3per cent) settled lower.

However, as measured by market breadth, market sentiment was negative, as 35 stocks lost relative to 26 gainers. NNFM emerged the highest price gainer of 10 per cent to close at N54.45, while Dangote Sugar Refinery followed with a gain of 9.91 per cent to close at N40.50, per share.

John Holt and The Initiates Plc (TIP) advanced by 9.80 per cent each to close at N9.30 and N2.80 respectively, while Omatek Ventures rose by 9.76 per cent to close at 90 kobo, per share.

On the other side, Livestock Feeds led others on the losers’ chart with 10 per cent to close at N5.40, per share. Eunisell Interlinked followed with a decline of 9.97 per cent to close at N15.62, while Neimeth International Pharmaceuticals shed 9.83 per cent to close at N3.12, per share.

Regency Alliance Insurance lost 9.33 per cent to close at 68 kobo, while Honeywell Flour Mills depreciated by 9.26 per cent to close at N9.21, per share.

The total volume traded nudged higher by 8.4 per cent to 472.163 million units, valued at N16.696 billion, and exchanged in 12,336 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO)  led the activity with 65.052 million shares worth N3.773 billion. Universal Insurance followed with account of 48.545 million shares valued at N28.508 million, while Fidelity Bank traded 45.910 million shares valued at N802.838 million.

Access Holdings traded 27.334 million shares worth N668.063 million, while NASCON Allied Industries traded 26.654 million shares worth N1.107 billion