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NGX indices record marginal gain, up 0.01%



Trading on the Nigerian Exchange (NGX) Ltd., ended on a cautious note on Thursday with the key indicators recording a marginal gain of 0.01 per cent.

The upward trend was sustained as a result of buy-interest in United Bank for Africa (UBA), FBN Holdings and Oando.

Thus, the All-Share Index rose by 3.46 points or 0.01 per cent to close at 39,131.80 from 39,128.34 recorded on Wednesday.

Also, the market capitalisation improved by two billion naira to close at N20.479 trillion against N20.477 trillion reported on Wednesday.

The gain was driven by price appreciation in large and medium capitalised stocks amongst which are; PZ Cussons, UBA, UACN, Cutix and Oando.

Consequently, the market closed positive, recording 17 gainers and 15 losers.

Cutix topped the gainers’ chart in percentage terms, improving by seven per cent to close at N2.14 per share.

PZ Cussons followed with a gain 6.93 per cent to close at N5.40, while Linkage Asurance was up by five per cent to close at 84k per share.

Courteville Business Solutions rose by 4.35 per cent to close at 24k, while Oando appreciated by 3.96 per cent to close at N3.15 per share.

Conversely, EkoCorp led the losers’ chart in percentage terms, dropping 10 per cent to close at N5.40 per share.

SUNU Assurances followed with 9.09 per cent to close at 60k, while Honeywell Flour Mill decreased by 8.45 per cent to close at N1.30 per share.

Sovereign Trust Insurance shed eight per cent to close at 23k, while Unity Bank depreciated by 6.78 per cent to close at 55k per share.

However, the total volume of shares exchanged dropped by 4.6 per cent to 228.11 million shares valued at N2.64 billion in 3,656 deals.

This was against a turnover of 239.25 million shares worth N1.66 billion transacted in 3,746 deals on Wednesday.

Transactions in the shares of Guaranty Trust Bank topped the activity chart with 37.29 million shares valued at N1.16 billion.

Zenith Bank sold 28.75 million shares worth N635.26 million, while FBN Holdings traded 22.31 million shares valued at N164.88 million.

Fidelity Bank accounted for 17.55 million shares worth N39.04 million, while UBA transacted 15.05 million shares valued at N109.63 million.

Chinyere Joel-nwokeoma

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