Thursday’s trading of equities on the floor of the Nigerian Exchange Limited, NGX closed positive, advancing 0.11 per cent.
The All-Share Index (ASI) gained 81.91 points, representing a gain of 0.11 per cent to close at 71,365.25 points, while the market capitalisation rose by N44 billion to close at N39.052 trillion.
Accordingly, the Month-to-Date and Year-to-Date returns advanced to +3.1% and +39.3%, respectively.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Airtel Africa, Northern Nigeria Flour Mills (NNFM), Ecobank Transnational Incorporated (ETI), MeCure Industries and Guaranty Trust Holding Company (GTCO).
On market performance, Afrinvest Limited said “we expect the market to sustain the positive performance in tomorrow’s trading session due to improved investor sentiment.”
The total volume of trade increased by 49.77 per cent to 540.086 million units, valued at N10.243 billion, and exchanged in 6,516 deals.
Transactions in the shares of GUARANTY TRUST HOLDING COMPANY PLC led the activity with 67.23 million shares worth N2.603 billion.
Universal Insurance followed with account of 56.747 million shares valued at N13.662 million, while Consolidated Hallmark Holdings traded 46.100 million shares valued at N64.328 million.
Transnational Corporation (Transcorp) traded 42.756 million shares worth N294.338 million, while FBN Holdings (FBNH) traded 36.028 million shares worth N787.474 million.
Investor sentiment, as measured by market breadth closed negative as 24 stocks advanced, while 32 declined.
NNFM emerged the highest price gainer of 10 per cent to close at N35.20, per share. Thomas Wyatt Nigeria followed with a gain of 9.62 per cent to close at N2.28, while MeCure Industries advanced by 9.09 per cent to close at N12.00 per share.
Champion Breweries rose by 7.69 per cent to close at N3.50, while ETI appreciated by 6.25 per cent to close at N17.00, per share.
On the other side, Secure Electronic Technology led others on the losers’ chart with 9.72 per cent to close at 65 kobo, per share. Unity Bank followed with a decline of 9.68 per cent to close at N1.40, while Tantalizers shed 9.43 per cent to close at 48 kobo, per share.
DAAR Communications depreciated by 9.38 per cent to close at 29 kobo, while Deap Capital Management & Trust declined by 9.23 per cent to close at 59 kobo, per share.
Sectoral performance was broadly negative, as the Insurance (-0.8%), Banking (-0.4%), Consumer Goods (-0.3%), and Oil & Gas (-0.1%) indices printed losses, while the Industrial Goods (+0.1%) index advanced.
Olusola Akintonde
