Equities market shoots up with 0.14% growth

Factual Pursuit of Truth for Progress

Securities  trading in Nigerian Exchange Ltd. (NGX) rebounded to open the week with a gain of 0.14 per cent as blue chips made gains.


The All-Share Index (ASI) grew by 76.36 points or 0.14 per cent to 55,605.57 compared with 55,529.21 achieved on Friday.


Similarly, market capitalisation inched by N42 billion to close at N30.291 trillion in contrast with N30.249 trillion posted on Friday.


The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which were MTN Nigeria, WAPCO, UBA, Unity Bank, Julius Berger and International Energy Insurance.


Analysts said: “it was a tepid trading day on Monday, amid profit taking mostly in the banking sector (all-tier-I banks except UBA, which closed in the red.


“We expect another mixed sectorial performance on Tuesday as investors begin to cherry-pick counters across board.’’


Market breadth closed negative as 16 stocks posted gains, while 20 stocks posted declines.


Julius Berger recorded the highest price gain of 10 per cent to close at N26.95 per share.


Unity Bank followed with a gain 9.26 per cent to close at 59k per share, while International Energy Insurance appreciated by 8.33 per cent to close at N1.30 per share.


Livestock garnered 4.67 per cent to close at N1.12 per share, while Chams appreciated by 4 per cent to close at 26k per share.


Conversely, Computer Warehouse Group led the losers’ chart with a loss of 7.14k, per cent to close at 91k per share.


FTN Cocoa Processors followed with a decline of 6.67 per cent to close at 28k per share, while OandO dropped by 4.39 per cent to close at N4.36 per share.


Courteville Business Solutions lost 4.17 per cent to close at 46k per share while Japaul Gold & Ventures shed 3.45 per cent to close at 28k per share.


Total volume traded declined by 33 per cent to 125.55 million shares, worth N2.48 billion traded in 4,076 deals.


This was in contrast to a turnover of 184.24 million shares valued at N2.54 billion traded in 3,962 deals on Friday.


Transactions in the shares of Transcorps topped the activity chart with a total of 11.8 million shares valued at N15.36 million.


Guaranty Trust Holding Company (GTCo) came second with 9.4 million shares worth N248.3 million, while UBA traded 9.19 million shares valued at N79.04 million.


OandO sold 8.35 million shares worth N36.78 million, while Fidelity Bank transacted 6.45 million shares valued at N33.19 million.




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