NGX maintains gaining streak as market capitalisation rises by ₦166.84bn
Salamatu Ejembi, Lagos
The equities market has maintained the positive performance with which it began this week’s trading activities on the floor of the Nigerian Exchange Limited, NGX.
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.
