NGX maintains gaining streak as market capitalisation rises by ₦166.84bn

Transactions on Wednesday ended with the benchmark index gaining 0.58% owing to bargain hunting in NESTLE NIGERIA PLC (+9.98%), GEREGU POWER PLC(+2.95%) and SEPLAT ENERGY PLC(+2.13%) that offset losses in ZENITH BANK PLC (-0.93%), GUARANTY TRUST HOLDING COMPANY PLC (-1.44%) and P Z CUSSONS NIGERIA PLC (-2.70%).

Consequently, the third consecutive gain for the week saw the market capitalisation rising by ₦166.84bn or 0.58% to close at ₦28,819trn from ₦28,653trn while the All-Share Index rose by 306.41 or 0.58% to close at 52,927.60 basis points from 52,621.19 basis points.

Analysis of today’s market activities showed that a total of 455.18 million units of shares valued at ₦7.83bn were exchanged in 6,635 deals and ACCESS HOLDINGS PLC (+6.19%) led the volume chart with 69.19 million units traded while SEPLAT ENERGY PLC (+2.13%) led the value chart in deals worth ₦1.84bn.

As measured by market breadth, market sentiment was positive with 36 advancing issues outnumbering 17 declining ones.

Topping the advancers’ table is NESTLE NIGERIA PLC with a rise in selling price from ₦1,043.80k per share to ₦1,148.00k per share by ₦104.20k or 9.98%. Next is TRIPPLE GEE AND COMPANY PLC with a rise from ₦3.24k per share to ₦3.56k per share by 0.32k or 9.88%. Followed by U A C N PLC with a rise from ₦8.20k per share to ₦9.00k per share by 0.80k or 9.76%.

Conversely, CHELLARAM PLC fell from ₦1.63k per share to ₦1.47k per share by 0.16k or 9.82%. Then MCNICHOLS PLC declined from 0.73k per share to 0.66k per share by 0.07k or 9.59%. While CORONATION INSURANCE PLC fell from 0.46k per share to 0.42k per share losing 0.04k or 8.70%.

Analysing by sectors, the Oil & Gas (+2.5%), Consumer Goods (+2.1%), Banking (+1.1%) and Industrial Goods (+0.2%) indices advanced, while the Insurance (-0.1%) index was the sole loser of the day.