TRANSACTIONS on the equities sector of the Nigerian Exchange Limited (NGX) reopened in an upbeat yesterday, as heavy price gains in Geregu and 41 stocks lifted capitalisation by N204 billion.
Yesterday, market capitalisation of listed equities appreciated by 0.59 per cent to N34.273 trillion from N34.069 trillion reported on Friday. The NGX All Share Index also went up by 373.62 basis points to 62943.35 points from 62569.73 points reported on Friday.
Indeed, yesterday’s upturn was propelled by gains in large Geregu, FBN Holdings, Unilever, Zenith, Ecobank TransNational Incorporated, United Bank for Africa and United Capital.
Analysts at Vetiva Dealings and Brokerage said: “The market saw recoveries in the banking sector, while consumer goods continue to suffer losses on the back of the high inflationary environment. We expect another mixed trading session tomorrow, while the share buy-back activity in Dangote Cement contribute significantly to market turnover.”
On the price movement chart, 42 stocks appreciated in price while 28 constituted the losers chart. Daar Communication, Unilever Nigeria Plc and Fidelity Bank led gainers chart, adding 10 per cent each to close at 33 kobo, N15.95 kobo and N7.37 kobo respectively. Sterling Bank followed with a gain of 9.97 per cent to close at N3.42 per unit; JohnHolt recorded an increase of 9.94 per cent to close at N1.99 per unit. Wema Bank gained 9.88 per cent to close at N4.45 kobo. Ecobank TransNational Incorporated added 9.84 per cent to close at N13.95 kobo. Champion Breweries appreciated by 9.84 per cent to close at N13.95 kobo. FBN Holdings garnered 9.81 per cent to close at N17.35 kobo. Redstar Express also increased by 9.72 per cent to close at N3.50 kobo.
On the contrary, PZ Cusson, Veritas Kapital, Union Bank of Nigeria and SFS REIT topped losers chart on percentage terms, shedding 10 per cent to close at N16.20 kobo, 27 kobo, N6.30 kobo and N69.30 kobo respectively. FTNCocoa trailed with 9.93 per cent to close at N2.54 kobo. Eternaoil depreciated by 9.84 per cent to close at N23.70 kobo while Northern Nigeria Flourmills dropped 9.78 per cent to close at N12.45 kobo. JapaulGild lost 9.09 per cent to close at 90 kobo. RTBriscoe shed 8.47 per cent to close at 54 kobo. Omatek dropped 8.16 per cent to close at 45 kobo. May&Baker also lost 7.92 per cent to close at N5.
Volume of shares increased during the day as investors traded 710.018 million shares valued at N13.829 billion in 8979 deals against 600.487 million shares worth N8.827 billion exchanged hands the previous day in 9554 deals.
Transactions in the shares of Sterling Bank led market activities during the day with account of 65.948 million shares valued at N216.572 million, Transnational Corporation of Nigeria followed with account of 62.200 million shares valued, Unity Bank traded 59.665 million shares worth N79.965 million, AccessCorp exchanged 51.054 million shares valued at N828.767 million while Universal insurance traded 49.806 million shares worth N12.338 million.
