The Nigerian Exchange Limited (NGX) reopened on a positive note, yesterday, as gains in Transcorp Hotel and 17 stocks lifted market capitalisation by N9 billion.
Market capitalisation of listed equities gained 0.02 per cent or N9 billion to close at N39.621 trillion from N39.612 trillion reported the previous day.
The all-share index (ASI) also appreciated by 15.68 basis points to 72404.91 points from 72389.23 points traded on Friday.
The upturn was impacted by price appreciation in large and medium capitalised stocks amongst which are Transcorp Hotel, Eterna, Infinity Savings, Fidelity Bank, CWG and John Holt.
On the price movement chart, Infinity Savings led the gainers table, appreciating by 9.93 per cent to close at N3.10 kobo.
John Holt followed with a gain of 9.87 per cent to close at N2.45 kobo. Transcorp Hotel added 9.38 per cent to close at N51.30 kobo. SCOA Plc gained 8.62 per cent to close at N1.89 kobo. FTNCocoa added 7.53 per cent to close at N1.57 kobo.
On the contrary, ABC Transport recorded the highest loss during the day, shedding 8.89 per cent to close at 82 kobo, eTranzact trailed with a loss of 9.42 per cent to close at N6.25 kobo.
RTBriscoe fell by 8.33 per cent to close at 55 kobo, Sovereign Trust Insurance dipped by 7.69 per cent to close at 36 kobo while TIP declined by 6.84 per cent to close at N1.09 kobo.
Analysts at Afrinvest said: “Investors’ sentiments as measured by market breadth, declined to 0.21x (previously 0.34x) as 18 stocks advanced, 33 declined. Tomorrow we anticipate investors cherry-picking to sustain the positive performance in the absence of any negative shock.”
Volume of activities increased by 17.095 million, representing 5.56 per cent as investors traded 324.249 million shares valued at N4.397 billion against 307.154 million shares costing N6.566 billion exchanged hands the previous day in 6016 deals.
Transactions in the shares of Mutual Benefits led market activities with 42.081 million shares valued at N20.361 million, United Bank for Africa followed with an account of 28.716 million shares costing N689.912 million.
Transacorp traded 24.091 million shares costing N166.97 million, Sterling Bank exchanged 20.214 million shares worth N85.035 million while Zenith traded 17.152 million shares valued at N635.319 million.
