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Stock market gains by 0.35%

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Transactions on the Nigerian Exchange Ltd. (NGX) on Wednesday ended on a positive note with market indices appreciating by 0.35 per cent.

The market capitalisation declined by N107 billion to close at N30.397 trillion in contrast with N30.29 trillion achieved on Tuesday.

Similarly, the All-Share Index, which opened at 55,603.94 shed 197.20 points or 0.35 per cent to close at 55,801.14.

The market’s positive performance was primarily driven by interest in stocks of Dangote Cement, MTN Nigeria, Royal Exchange, amongst others.

The year-to-date (YTD) return rose to 8.88 per cent.

Trans-Nationwide Express recorded the highest price gain to lead the gainers’ chart, appreciating by 9.88 per cent to close at 89k, per share.

Cutix trailed with a gain of 8.5 per cent to close at N2.17 and FTN Cocoa Processors grew by 7.69 per cent to close at 28k, per share.

Sovereignity Trust Insurance was up by 7.14 per cent to close at 30k, while Honeywell Flour appreciated by 6.39 per cent to close at N2.33 per share

Conversely, MRS topped the losers’ table, dropping by 9.88 per cent to close at N27.95 per share.

Asssociated Bus Transport (ABC) followed by losing 7.89 per cent each to close at 35k, while Chams dropped by 7.41 per cent to close at 25k per share.

Also, Ardova depreciated by 6.2 per cent to close at N17.40, while Royal Exchange decreased by 5.33 per cent to close at 71k per share.

Analysis of the activity chart indicated that Courteville Business Solutions emerged the most active in volume terms, having accounted for 34.61 million shares worth N16.61 million.

It was followed by United Bank for Africa (UBA) with an exchange of 15 million shares valued at N127.31 million, and Guranty Trust Holding Company (GTCO) sold 12.75 million shares worth N335.93 million.

Mansard Assurance exchanged 8.28 million shares valued at N16.58 million, while Dangote Cement sold 7.32 million shares worth N2.09 billion.

In all, investors staked N3.57 billion on 152.74 million shares transacted in 3,293 deals.

Olawunmi Ashafa

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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