NGX: Investors gain N12bn after 3-day negative posts

Investors gained N11.98 billion after a three-day consecutive negative trading at the nation’s equities market.

The market capitalisation stood at N27.807 trillion, representing a 0.04 per cent, an increase from the N27.795 trillion recorded at close of trade on Wednesday.

The gains were recorded majorly on trading of banks’ stocks such as Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), Sterling Bank, among others.

Also, the All Share Index (ASI) marginally gained one basis point to close at 51,7563.73 points from 51,556.54 points on Wednesday.

This made the month-to-date and year-to-date performance to stand at 0.49per cent and 20.71 per cent, respectively.

The market breadth was positive with 15 stocks in the gainers’ chart as against 10 in the losers’ chart.

Academy Press recorded the highest price gain of 9.55 per cent to close at N1.72 per share.

NAHCO followed with a gain of 9.41 per cent to close at N9.30 per share, while FTNCocoa rose by 9.38 per cent to close at 35k per share.

Honey Flour rose by 9.39 per cent to close at N2.97, while Ikeja Hotel gained 8.20 per cent to close at N1.32 per share.

On the other hand, RT Briscoe led the losers’ chart by 8.11 per cent each, to close at 34k per share.

UPDC depreciated by 7.87 per cent to close at N1.17 per share.

Regal Insurance followed with a decline of 7.41 per cent to close at 25k per share, while Japaul Gold lost 3.45 per cent to close at 28k per share.

Also, First Bank of Nigeria Holdings (FBNH) lost 3.20 per cent to close at N10.60 per share.

Meanwhile, shares of JaizbBank led the volume chart with 42.10 million shares valued at N36.61 million.

GTCO followed with 19.45 million shares worth N396.76 million, while Sterling Bank traded 9.41 million shares valued at N14.08.

UBA traded 6.87 million shares valued at N51.37 million, while NAHCO traded 5.18 million shares worth N46.14 million.

Market activity as measured by volume of trades rose to 143,288 million units of shares, representing 5.94 per cent increase 135.259 million units traded the previous day.

Also, the value of traded stocks went up by 22.07 per cent, standing at 1.756 billion as against a value of 1.439 billion recorded on Wednesday.