NGX maintains bullish run; gains N69 billion
The upward trend at the domestic equities market continued on Thursday with a growth of N69 billion.
Market capitalisation which opened at N25.411 trillion inched higher by N69 billion to close at N25.480 trillion.
Similarly, the All-Share Index rose by 129.11 points or 0.27 per cent to close at 47,286.34 against 47,157.23 on Wednesday.
Consequently, the month-to-date and year-to-date gains increased to 1.4 per cent and +10.7 per cent, respectively.
The gain was driven by price appreciation in large and medium capitalised stocks amongst which are: Total Nigeria, Guinness, Four Mills, Nigerian Exchange Group (NGXGroup) and FBN Holdings (FBNH).
Analysts at Afrinvest Ltd. said, “In the final trading session for the week, we anticipate an extended positive performance on improved investor sentiment.”
The market closed positive with 30 gainers relative to nine losers.
Guinness dominated the gainers’ chart with the highest price gain of 10 per cent to close at N55 per share.
TotalEnergies Marketing Nigeria, formerly (Total Nigeria), followed with a gain of 9.92 per cent to close at N264.90, while UACN Property Development Company was up by 9.90 per cent to close at N1.11 per share.
R.T. Briscoe Nigeria rose by 9.09 per cent to close at 36k, while University Press appreciated by 8.16 per cent to close at N2.65 per share.
On the other hand, Veritas Kapital Assurance led the losers’ chart by 4.35 per cent to close at 22k per share.
Union Bank of Nigeria followed with a loss of 3.20 per cent to close at N6.05, while Ikeja Hotel declined by 2.74 per cent to close at N1.42 per share.
Regency Alliance Insurance lost 2.50 per cent to close at 39k, while FCMB Group depreciated by 2.34 per cent to close at N2.92 per share.
The total volume of trades decreased by 33.4 per cent to 198.115 million units, valued at N3.405 billion exchanged in 4,294 deals.
Transactions in the shares of Chams Plc topped the activity chart with 16.738 million shares valued at N3.515 million.
Transcorp followed with 15.38 million shares worth N17.82 million, while Access Bank traded 14.29 million shares valued at N149.46 million.
United Bank for Africa traded 12.54 million shares valued at N109.82 million, while Flour Mills transacted 12.15 million shares worth N389.37 million.
(NAN)
More from Peoples Gazette
Economy
Buhari regime will continue to borrow without subsidy removal: Femi Adesina
“You know how much could have been saved if the subsidy was removed and how it could have been diverted to other areas and spheres of national life.
Faith
Oluwo of Iwo demands N20 million from Governor Oyetola to marry Kano process
Rasheed Akanbi’s request highlights how traditional institutions have been draining resources from public coffers to finance largely personal interests.
NationWide
Aregbesola calls for review of bush burning law
“Though there are naturally occurring fire incidents, most fire incidents are man-made, either accidentally, negligently or on purpose,” said Mr Aregbesola.
States
Two killed as commercial bus catches fire
“Five of the injured are receiving treatment at the Federal Medical Centre, Lokoja, while two others are at the Kogi Specialists Hospital, Lokoja,” he explained.
Politics
Abia APC Crisis: Nwankpa hands over to Obioma as chairman
“This is our party. We brought it and built it in the state. We are all witnesses to when it was nothing to this moment. It has become a formidable force in the state.”
States
Border Crisis: NBC urges Plateau, Taraba communities to cooperate
“In 1996, the two states accepted bilateral agreements and a boundary line which was sanctioned by the NBC.”
NationWide
Expect haze across country from Friday, NiMet warns Nigerians
“Hazy skies with few clouds are expected…with slim prospects of thunderstorms over parts of Lagos, Delta, Bayelsa and Edo throughout the forecast period.”
