NGX bullish, capitalisation gains N94bn

NGX bullish, capitalisation gains N94bn

Transactions on the Nigerian Exchange (NGX) reopened on Monday on a bullish trend following investors’ interest in large and medium capitalised stocks.

Specifically, the market capitalisation inched higher by N94 billion or 0.47 per cent to close at N20.240 trillion from N20.146 trillion.

Also, the All-Share Index grew by 181.18 points or 0.47 per cent to close at 38,849.08 from 38,667.90 achieved on Friday.

Accordingly, month-to-date gain increased to 2.5per cent, while year-to-date loss moderated to 3.5 per cent.

The upturn was driven by price appreciation in Airtel Africa, Julius Berger, Ardova, Lafarge Africa and UACN.

Analysts at Afrinvest Ltd. expected the positive momentum to be sustained this week as more impressive first half earnings results are churned out.

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Overall, the market was positive with 29 stocks gainers relative to 16 losers.

Oando led the gainers’ chart in percentage terms with a growth of 9.82 per cent to close at N4.36 per share.

FTN Cocoa Processors followed with 9.76 per cent to close at 45k, while Ardova went up by 9.75 per cent to close at N17.45 per share.

BOC Gases rose by 9.74 per cent to close at N8.45, while Livestock Feeds gained 9.64 per cent to close at N2.16 per share.

On the other hand, Universal Insurance led the losers’ chart in percentage terms by 9.09 per cent to close at 20k per share.

Linkage Assurance followed with a decline of 7.14 per cent to close at 65k, while Sovereign Trust Insurance lost 6.90 per cent to close at 27k per share.

Africa Prudential lost 6.52 per cent to close at N6.45, while Regency Alliance Insurance shed 6.25 per cent to close at 45k per share.

Also, the total volume of trades rose by 7.08 per cent as investors bought and sold 246.56 billion shares valued at N2.24 billion exchanged in 4,676 deals.

This was in contrast with a total of 230.25 million shares worth N2.31 billion traded in 4,135 deals on Friday.

Transactions in the shares of Fidelity Bank topped the activity chart with 30.54 million shares valued at N73.77 million.

Access Bank followed with 14.71 million shares worth N136.72 million, while United Bank for Africa traded 13.84 million shares valued at N108.65 million.

Guaranty Trust Bank Holding Company (GTCO) sold 12.76 million shares worth N378.32 million, while Wema Bank transacted 11.27 million shares valued at N9.81 million. 

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