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NGX: Key indices record 0.04% marginal growth

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NSE maintain bearish trend despite listing of Ellah Lakes additional shares

Key indices of the Nigerian Exchange (NGX) closed on Wednesday with a marginal growth of 0.04 per cent on renewed bargain hunting.

Accordingly, the All-Share Index grew by 15.31 points or 0.04 per cent to close at 37,872.55 from 37,857.24 recorded on Tuesday.

Thus, the month-to-date and year-to-date losses moderated to 0.1 per cent and 6.0 per cent, respectively.

In the same vein, the market capitalization inched higher by N8 billion to close at N19.732 trillion against N19.724 trillion on Tuesday.

The positive performance was driven by price appreciation in large and medium capitalised stocks amongst which are; Total Nigeria, MTN Nigeria Communications (MTNN), NCR Nigeria, Capital Hotel and PZ Cussons.

Accordingly, the market closed positive with 18 gainers relative to 11 losers.

Capital Hotel led the gainers’ chart in percentage terms with 10 per cent to close at N2.64 per share.

NCR Nigeria followed with 9.89 per cent to close at N3, while Unity Bank appreciated by 6.78 per cent to close at 63k per share.

Total rose by 6.06 per cent to close at N168, while FTN Cocoa Processors gained 5.13 per cent to close at 41k per share.

On the other hand, Linkage Assurance led the losers’ chart in percentage terms by 5.41 per cent to close at 70k per share.

Cornerstone Assurance followed with 5.36 per cent to close at 53k, while Oando lost 4.14 per cent to close at N3.01 per share.

Consolidated Hallmark Insurance dipped 2.86 per cent to close at 68k, while Access Bank shed 2.17 per cent to close at N9 per share.

However, the total volume of shares dropped marginally by 0.02 per cent to 197.23 million units valued at N2.14 billion exchanged in 3,610 deals.

This was against 197.28 billion shares worth N1.92 billion transacted in 3,567 deals on Tuesday.

Transactions in the shares of United Bank for Africa topped the activity chart with 35.92 million shares valued at N269.55 million.

Access Bank followed with 28.65 million shares worth N259.58 million, while Zenith Bank accounted for 17.65 million shares valued at N424.69 million.

UACN Property Development Company traded 13.77 million shares worth N20.04 million, while Guaranty Trust Holding Company transacted 10.37 million shares valued at N304.52 million.

Chinyere Joel-nwokeoma

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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