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Equity market gains, performance indices up 1.92%



NSE maintain bearish trend despite listing of Ellah Lakes additional shares

The Nigerian Exchange Ltd., (NGX) on Monday traded on a positive note, as the All-Share Index rose strongly by 1.92 per cent or 1,597.93 points.

Specifically, the All-Share Index settled at 84,640.89, as against 83,042.96 achieved on Friday.

Also, investors gained N874 billion, as the market capitalisation grew by 1.92 per cent to close at N46.316 trillion, as against N45.442 trillion recorded on Friday.

As a result, The Year-To-Date (YTD) return rose to 13.20 per cent, while the market breadth closed positive with 46 equities on the gainer’s table and 19 others on the loser’s.

Buying interests in industrial such as Dangote Cement, BUA Cement and Zenith Bank grew the market shares.

Specifically, 807.51 million shares valued at N11.03 billion were exchanged in 13,647 deals, as against 600.63 million shares valued at N9.10 billion exchanged in 11,697 deals at the previous trade.

However, Transcorp led the activity chart in volume with 66.89 million shares worth N956 million, followed by AIICO Insurance with 62.29 million shares valued at N789.89 million.

Wema Bank also sold 41.57 million at N387.92 million, Jaiz Bank transacted 39.19 million shares worth N128.01 million, while First City Monumental Bank (FCMB) traded 38.14 million shares valued at N423.12 million shares.

On the gainer’s chart, Chams, Axa Mansard, PZ, Tantalizer and Daar Communications led in percentage terms of 10 each to close at N2.53, N6.49, N32.45, 55k and 99k per share, respectively.

Conversely, on the loser’s chart, Abbey Mortgage Bank Plc led by 9.52 per cent to close at N2.47 per share, followed by Julius Berger by 3.54 per cent to close at N54.50 per share.

Custodian Insurance trailed by 3.45 per cent to close at N9.80 per share, while Africa Prudential Plc shed 2.78 per cent to close at N8.75 pner share.

Also, FBNH lost 1.79 per cent to close at N27.50 per share.

Meanwhile, market breadth closed positive, with 66 advancing equities outnumbering eight declining ones.

Analysis of the market activities indicated that trade turnover settled lower relative to the previous session, while the value of transactions went down by 36.88 per cent.

Rukayat Adeyemi

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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