By Habibat Aliu
The Nigerian Exchange Limited (NGX) reversed losses, to close in an upbeat yesterday, as renewed bargain hunting in Dangote Cement and 11 stocks lifted market capitalisation by N9 billion.
Specifically, at the close of trading yesterday, the market capitalization of listed equities increased by 0.4 per cent to N23.681 trillion from N23.672 trillion it closed on Tuesday.
The All Share Index also appreciated by 15.88 basis points to 43477.48 points from 43461.60 reported the previous day.
Investors traded 133.405 million shares valued at N1.810 billion in 3078 deals against 249.911 million shares worth N2.501 billion exchanged the previous day.
Analysts at Afrinvest Research said: “Investor sentiments, as measured by market breadth, improved to 0.01 (previously 0.09) as 12 stocks advanced, 11 declined. We expect the positive performance to persist following improved investor sentiment.”
On the price movement chart, 12 stocks appreciated while 11 constituted the losers’ chart. Unity Bank Plc led the gainers’ gainersdding 9.09 per cent to close at 48 kobos. Linkage Assurance followed with a gain of 7.69 per cent to close at 42 kobos.
Royal Exchange Assurance added 7.32 per cent to close at 88 kobos. Chams Plc appreciated by 4.35 per cent to close at 24 kobos. Mutual Benefits improved by 3.85 per cent to close at 27 kobos.
Sterling Bank added 2.19 per cent to close at N1.40 kobo. Champion Breweries gained 1.74 per cent to close at N3.50 kobo. United Bank For Africa garnered 1.43 per cent to close at N7.10 kobo.
Dangote Cement appreciated by 59 per cent to close at N221.30 kobo. GTCO advanced by 29 per cent to close at N17.55 kobo. Zenith Bank also increased by 25 kobos to close at N19.95 kobo.
On the other hand, Honey Well Flour topped the losers’ chart, declining by 9.09 per cent to close at N2 while Prestige Insurance trailed with a loss of 8.70 per cent to close at 42 kobos.
Presco fell by 6.15 per cent to close at N120.50 kobo. Jazz Bank dipped by 6.00 percent to 94 kobos. Oando dropped 4.41 per cent to close at N3.90 kobo.
International Breweries lost 3.61 per cent to close at N4 while Wapic Insurance shed 2.78 per cent to close at 35 kobos.
NGX Group depreciated by 1.65 per cent to close at N20.85 kobo. Mansard dipped by 1.23 per cent to close at N1.60 kobo. AccessCorp lost 1.23 per cent to close at N8.
On the activity chart, FBNHoldings recorded the highest volume of activities during the day, exchanging 30.380 million shares valued at N303.740 million, Oando Plc followed with an account of 16.769 million shares worth N64.167 million.
Zenith Bank traded 13.472 million shares worth N268.151 million, United Bank for Africa exchanged 9.845 million shares worth N68.024 million, and GTCO Plc traded 8.965 million shares valued at N157.714 million.
