By Helen Oji
Despite price losses that outweighed gains, the bulls resurfaced on the equities sector of the Nigerian Exchange Limited (NGX), yesterday, as gains in Geregu, Airtel Africa, others lifted market capitalisation by N88 billion.
Specifically, at the close of transactions, market capitalisation of listed equities increased by N88 billion or 0.3 per cent to N30.326 trillion from N30.238 trillion recorded on Wednesday. Also, the All-Share Index, which measures the performance of listed equities, also rose by 161.63 basis points to 55670.24 points from 55508.61 points reported the previous day.
The upturn was impacted by gains recorded in medium and large capitalised stocks, among which are, Geregu Power, Airtel Africa, Dangote Sugar Refinery, National Salt Company of Northern Nigeria, PZ Cussons, CWG and MCNicholas.
On the price movement chart, 17 stocks appreciated in price, while 25 constituted the losers’ chart. SUNU Assurance led the gainers chart with 10 per cent to close at 44 kobo while Dangote Sugar followed with a gain of 9.94 per cent to close at N29.35 kobo.
Mcnichols added 9.72 per cent to close at 79 kobo, Geregu Power Plc appreciated by 9.02 per cent to close at N325. National Salt Company of Northern Nigeria increased by 8.93 per cent to close at N12.20 kobo.
CWG added 8.89 per cent to close at 98 kobo, while FTN Cocoa gained 7.14 per cent to close at 30 kobo. UPDC appreciated by 4.90 kobo to close at N1.07 kobo. Unity Bank garnered 3.64 per cent to close at 57 kobo. PZ Cussons advanced by 3.40 kobo to close at N10.65 kobo. Airtel Africa improved by 89 per cent to close at N1,548.70.
However, Sovereign Trust Insurance emerged the day’s highest price loser, shedding 10 per cent to close at 27 kobo while Academy Press trailed with a drop of 9.38 per cent to close at N1.16 kobo.
Transnational Corporation of Nigeria dipped by 7.97 per cent to close at N1.27 kobo. Chams Plc was down by 7.14 per cent to close at 26 kobo. NGX group fell by 6.55 per cent to close at N27.10 kobo.
MRS dropped 6.38 per cent to close at N34.50 kobo. Jaiz Bank shed 5.21 per cent to close at 91 kobo. Honeywell flourmills depreciated by 3.98 per cent to close at N2.17.
Nigerian Aviation Handling Company lost 3.95 per cent to close at N8.50 kobo. Japaul oil declined by 3.45 per cent to close at 28 kobo. UACN also fell by 3.41 per cent to close at N8.50 kobo.
Investors traded 206.110 million shares valued at N3.259 billion in 4385 deals against 565.822 million shares worth N6.578 billion exchanged hands the previous day in 4340 deals.
Transnational Corporation of Nigeria led activity during the day with 29.746 million shares valued at N39.149 million, AccessCorp followed with account of 18.645 million shares valued at N172.315 million, UACN traded 14.021 million shares cost N118.344 million, GTCO Plc exchanged 13.055 million shares worth N348.627 million while Zenith Bank sold 9.276 million shares valued at N244.604 million.
Source: The Guardian