NGX market indices extend gain by 0.06%

Activities on the domestic equities market closed Wednesday on a positive note, extending the gaining streak by N18 billion.

The positive outcome was buoyed by investors’ buy-interests in banking stocks, with market indices increasing further by 0.06 per cent.

Specifically, the All-Share Index grew by 31.43points or 0.06 percent to close at 54,936.11 from 54,904.68 recorded on Tuesday.

Accordingly, the year-to-date returns increased to 7.19 per cent.

Similarly, the overall market capitalisation rose by N18 billion or 0.06 percent to close at N29.927 trillion against N29.909 trillion on Tuesday.

The banking stocks that lifted the positive performance of the market included those of Guranty Trust Holding Company (GTCO), FBN Holdings (FBNH) and Fidelity Bank.

However, the market breadth closed negative recording nine losers in contrast with 14 gainers.

WAPIC and GTCO dominated the gainers’ chart in percentage, gained by 2.44 per cent each to close at N24.60, per share, respectively.

Linkage Assurance followed with 2.22 per cent to close at 45k, while Lasaco Assurance appreciated by 2.04 per cent to close at 98k per share.

Transcorp improved by 1.56 per cent to close at N2.35, per share.

On the other hand, NCR led the losers’ chart in percentage terms by 9.69 per cent to close at N2.89, per share.

FTN Cocoa Processors followed with 6.9 percent to close at 29k, while Japaul Gold & Ventures shed 6.67 per cent to close at 30k per share.

Cutix shed 4.95 percent to close at N2.22, while Consolidated Hallmark Insurance depreciated by 4.62 per cent to close at 65k per share.

Also, the total volume of trades rose by five per cent with an exchange of 134.15 million shares worth N1.33 billion in 2,479 deals.

This was against a turnover of 127.74 million shares worth N1.59 billion exchanged in 2,987 deals on Tuesday.

Transactions in the shares of Transcorp topped the activity chart with 28.12 million shares valued at N35.92 billion.

United Bank for Africa (UBA) followed with 21.23 million shares worth N170.42 million while Courteville Business Solutions traded 19.12 million shares valued at N8.61 million.

GTCO sold 13.55 million shares worth N336.9 million, while FBNH transacted 8.13 million shares valued at N89 million.