Business

Stocks appreciate N84bn in new week 

By Chukwuma Umeorah 

Trading activities on the Nigerian Exchange Limited (NGX) yesterday, resumed the week on a positive note as market capitalisation appreciated by N84billion. 

Specifically, the NGX All-Share Index (ASI) rose by 154.65 basis points or 0.29 per cent to close at 54,367.74 basis points, while the overall market capitalization value gained N84 billion to close at N29.613 trillion. 

Accordingly, the stock market recorded a one-week gain of 2.28 per cent, a monthly gain of 5.17 per cent, and an overall year-to-date (YtD) gain of 6.08 per cent at the end of Monday’s trading.   

The market gain was driven by price appreciation in large and medium capitalized stocks amongst which were MTN Nigeria Communications plc, Lafarge Africa plc (WAPCO) and Nigerian Exchange Group (NGXGroup). 

The total volume of trade declined by 28 per cent to 191.636 million units, valued at N4.799 billion which were exchanged in 4,359 deals. 

Transactions in the shares of Guarantee Trust Holding Company (GTCO) topped the activities chart (when measured by volume) as they 50.585 million shares valued at N1.271 billion. Zenith bank followed exchanging 18.016 million shares worth N452.440 million, while CHAMS traded 16.628 million shares valued at N4.452 million. 

However, market sentiment, as measured by market breadth closed flat as 16 stocks gained, while 16 stocks depreciated. Sovereign Trust Insurance plc (SOVRENINS) recorded the highest price gain of 10.00 per cent closing at N0.33 per share, followed by Linkage Assurance plc (LINKASSURE) gaining 8.89 per cent and closed at N0.49 per share. 

The value of INTENEGINS also went up by 8.08 per cent closing at N1.07 per share. IMG gained 4.55 per cent and closed at N8.05 per share. Also, COURTVILLE appreciated by 4.08 per cent closing at N0.51 per share. 

On the other hand, MCNICHOLS depreciated by 8.96 per cent closing at N0.61 per share, followed by PRESTIGE losing 8.70 per cent and closed at N0.42 per share. 

FTNCOCOA went down by 6.06 per cent closing at N0.31 per share. JAPAULGOLD depreciated by 5.88 per cent and closed at N0.32 per cent, while SUNUASSUR lost 5.88 per cent closing at N0.32 per share.

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