Follow Us on Google
By Chukwuma Umeorah
Trading on the floor of the Nigerian Exchange Limited (NGX) on Wednesday, closed bullish as the market gained 0.09 percent to end the negative trend where it lost N980 billion in 4 consecutive sessions previously
The market capitalisation increased by N261.03 billion and closed Wednesday’s session at N29.201 trillion from an opening value N28.940 trillion.
Similarly, the All-Share Index appreciated by 479.17 basis points or 0.09 per cent to close at 53,603.8 against 53,124.63 representing a weekly loss of 2.43 per cent, a monthly loss of 3.43 per cent, but an overall year-to-date gain of 4.59 per cent.
Investors’ demand for shares of some blue-chip stock such as DANGCEM, TRANSCORP, WAPCO, ZENITHBANK, OANDO and NACHO drove the performance of the market.
Also, equities that participated in the trading ended with 22 gainers and 14 losers.
A breakdown of the price movement table indicated that ONADO led the gainers chart having increased 9.84 per cent closing at N4.91 per share, followed by CAVERTON which added 8.08 per cent and closed at N1.07 per share. IKEJAHOTEL appreciated by 7.77 per cent and closed at N1.11 per share.
Some other stocks in the green angle were TRANCORP and DANGCEM gaining 7.14 per cent and 5.07 per cent to close at N1.50 per share and N290 per share respectively.
On the losers’ end was MAYBAKER losing 8.70 per cent closing at N4.20 per share, followed by CHIPLC which went down by 8.06 per cent and closed at N0.57 per share while RTBRISCOE shed 7.69 per cent to close at N0.24 per share.
The value of stocks in FTNCOCOA and CAP also went down by 7.14 per cent and 5.79 per cent to close at N0.26 and N17.90 per share respectively.
At the end of yesterday’s trading session, a total of 236.067 million shares corresponding to a market value of N3.259 billion were exchanged in 3,906 deals. Compared with the previous NGX trading day, the data shows a 16 per cent improvement in volume, a 59 per cent improvement in turnover, and a 27 per cent improvement in deals.
TRANSCORP was the most active stocks trading 91.391 million shares with a corresponding value of N134.236 million, followed by ZENITHBANK trading 27.087 million shares valued at N696.206 million while GTCO exchanged 22.071 units for N551.453 million.
