Positive sentiments kick-started this week’s trading of equities on the floor of the Nigerian Exchange Limited, NGX, as the benchmark index expanded by 0.23%.
Specifically, the All-Share Index appreciated to 97,733.86 basis points from 97,506.87 basis points, gaining 226.99 basis points or 0.23%.
On the other hand, the Market Capitalisation grew by 29 billion naira or 0.05% to close at 59,245 trillion Naira from Friday’s 59,216 trillion Naira.
Analysis according to Cordros Securities states “Today’s gains were driven primarily by strong buying interest in LAFARGE AFRICA PLC. (+10.0%) following the announcement of the proposed sale of the company’s majority stake to Huaxin Cement. Thus, the month-to-date and Year-to-Date returns printed +0.2% and +30.7%, respectively.”
Today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 32.70% while the total volume traded declined by 13.5% where a total of 451.17m shares valued at ₦10.15bn were exchanged in 9,329 deals.
JAPAUL GOLD & VENTURES PLC (+1.36%) led the volume chart with 72.03m units traded while UNITED BANK FOR AFRICA PLC (+1.22%) led the value chart in deals worth ₦2.23bn.
Market breadth closed positive with 36 advancing issues outnumbering 25 declining ones.
ABBEY MORTGAGE BANK PLC led the gainer’s table with a rise from 2.40k per share to 2.64k per share, gaining 0.24k or 10.00%.
Next is AFRICA PRUDENTIAL PLC rising by 0.90k or 10.00% to settle at 9.90k per share to 9.00 per share.
And LAFARGE AFRICA PLC. rose from 58.00 per share to 63.80k per share, appreciating by 5.80k or 10.00%.
On the flip side, E-TRANZACT INTERNATIONAL PLC fell from 7.50k per share to 6.75k per share, losing -0.75k or -10.00%.
Followed by NCR (NIGERIA) PLC. with a drop from 4.74k per share to 4.27k per share, losing -0.47k or -9.92%.
And FTN COCOA PROCESSORS PLC declined from 1.93k per share to 1.77k per share by -0.16k or -8.29%.
Sectoral performance was broadly positive as the Insurance (+2.1%), Industrial Goods (+0.9%), Consumer Goods (+0.7%), Oil & Gas (+0.4%) and Banking (+0.1%) indices posted gains.
Olusola Akintonde
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