By David Akinmola
Following renewed bargain hunting in BUA cement and NASCON, transactions on the trading floor of the Nigerian Exchange Limited (NGX) closed in an upbeat yesterday, as market capitalisation appreciated by N73 billion.
The All Share Index (ASI) rose by 134.50 points, representing an increase of 0.28 per cent to close at 48,988.04 points, while the overall market capitalisation value gained N73 billion to close at N26.682 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, NASON Allied Industries, Red Star Express, United Capital, and Nigerian Aviation Handling Company (NAHCO).
Market sentiment, as measured by market breadth, was positive as 16 stocks gained, relative to 12 losers.
Analysts Vetiva Dealing and Brokerage said: “So far this week, the banking and industrial sectors have remained in the green, while the former continues to keep activity level up. However, barring any large volume trades tomorrow, we expect another quiet session.”
Red Star Express recorded the highest price gain of 9.71 per cent to close at N2.26, per share. Chams followed with a gain of 9.52 per cent to close at kobosobo, while SCOA rose by 8.97 per cent to close at 85 kobos, per share.
Learn Africa went up by 8.84 per cent to close at N1.97, while Lasaco Assurance appreciated by 7.14 per cent to close at 90 kobos, per share
Livestock appreciated by 4.50 per cent to close at N1.16 kobo while the National Salt Company of Nigeria (NASCON) gained 4.31 per cent to close at N10.90 kobo.
BUA cement appreciated by 2.89 per cent to close at N97.75 kobo. Wapic added 2.70 per cent to close at 38 kobos. Nigerian Aviation Handling Company (NAHCO) appreciated by2.70 per cent to close at N5.85 kobo. Unity Bank also garnered 2.04 per cent to close at 50 kobos.
On the other hand, Prestige Assurance led the losers’ chart by 8.70 per cent to close at 42 kobos, per share. Multiverse Mining and Exploration followed with a decline of 8.51 per cent to close at N3.98 kobo.
Linkage Assurance depreciated by 6.98 per cent to close at 40 kobos, per share.
Eterna declined by 5.75 per cent to close at N6.07, while Dangote Sugar Refinery depreciated by 5.56 per cent to close at N15.30, per share.
Dangote Sugar shed 5.56 per cent to close at N15.30 kobo. Cornerstone Insurance depreciated by four per cent to close at 48 kobos. CWG dropped 2.53 per cent to close at 77 kobos. NGX Group fell by 2.04 per cent to close at N24. AccessCorp also lost 59 per cent to close at N8.45 kobo.
However, the total volume of trades decreased by 45.95 per cent to 88.039 million units, valued at N1.676 billion, and exchanged in 2,832 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 10.214 million shares valued at N213.647 million.
Zenith Bank followed with 9.787 million shares worth N225.271 million, while Jaiz Bank traded 7.911 million shares valued at N7.023 million.
Sterling Bank traded 5.167 million shares valued at N7.089 million, while United Capital transacted 4.471 million shares worth N61.571 million.
