Stock Exchange Market Resumes With Marginal Loss 0.04%

By: Salamatu Ejembi, Lagos

The Nigerian Exchange Limited, NGX resumed trading activities for the week on Tuesday after the two-day Easter public holiday as declared by the Nigerian government.

Upon resumption, the benchmark index made a marginal loss of 0.04%.

Specifically, the Market Capitalisation fell from ₦59,120 trillion Naira as seen on Thursday last week, to settle at ₦59,096 trillion Naira on Tuesday, therefore declining by ₦24 billion Naira or 0.04%.

Likewise, the all-share index declined by 0.04% or 43.92 basis points to close at 104,518.14 basis points as against the 104,562.06 basis points seen in the previous trading session.

This decline is being attributed to the losses in FBN HOLDINGS PLC (-1.97%), STANBIC IBTC HOLDINGS PLC(-1.79%) and TRANSNATIONAL CORPORATION PLC (-1.41%) which offset the gains seen in Tier-1 banking names; GUARANTY TRUST HOLDING COMPANY PLC (+1.05%), ZENITH BANK PLC (+0.11%) and ACCESS HOLDINGS PLC (+2.04%).

Consequently, the year-to-date (YTD) return slipped to 39.78%.

Analysis of today’s market activities showed that the value of transactions dropped by 13.81%, where a total of 545.49 million units of shares valued at ₦14.61bn were exchanged in 12,747 deals.

GUARANTY TRUST HOLDING COMPANY PLC led both the volume and value chart with 84.65 million units of shares valued at ₦4.48bn.

Market breadth closed positive with 23 advancing issues outnumbering the 17 declining ones.

MAY & BAKER NIGERIA PLC.topped the gainers table with a rise in selling price from ₦5.50k per share to ₦6.05k per share, gaining 0.55k or 10.00%.

Followed by IKEJA HOTEL PLC with a 0.64k or 9.95% rise from ₦6.43k per share to ₦7.07k per share.

Then CHAMS HOLDING COMPANY PLC was right after with a rise from ₦1.92k per share to ₦2.11k per share, gaining 0.19k or 9.90%.

On the laggards’ log, however, U A C N PLC topped the chart declining from ₦13.75k per share to settle at ₦12.40k per share, losing ₦1.35k or 9.82%.

JULIUS BERGER NIG. PLC. was next with a fall from ₦66.00k per share to close today at ₦59.95k per share by ₦6.05k or 9.17%.

And ASSOCIATED BUS COMPANY PLC trailed with a 0.07k or 9.09% decline to close at 0.70k per share compared to the 0.77 seen in the previous session.

Olusola Akintonde