BUSINESS

BUA Foods, BUA Cement, Dangote Sugar Refinery Gain As NGX Index Up 0.58%

The Nigerian Exchange reversed losing streak on Tuesday with the market indices rebounding by 0.58 per cent on bargain hunting in BUA Cement and BUA Foods.

Specifically, the All-Share Index inched higher by 256.23 points or 0.58 per cent to close at 44,655.89 from 44,399.66 achieved on Monday.

Accordingly, the year-to-date return increased to 4.5 per cent.

Also, the market capitalisation rose by N138 billion or 0.58 per cent to close at N24.059 trillion against N23.921 trillion recorded on Monday.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Foods, BUA Cement, Dangote Sugar Refinery, Conoil and and Skyway Aviation handling Company.

Consequently, market sentiment was positive with 27 gainers in relative to 13 losers.

Skyway Aviation handling Company led the gainers’ chart in percentage terms by 10 per cent to close at N5.83 per share.

Courteville Business Solutions followed with 8.57 per cent to close at 38k, while FTN Cocoa Processors up by 8.33 per cent to close at 39k per share.

Dangote Sugar Refinery grew by 7.35 per cent to close at N18.25, while Berger Paints appreciated by 5.84 per cent to close at N8.15 per share.

On the other hand, NEM Insurance drove the losers’ chart in percentage terms by 8.33 per cent to close at N3.63 per share.

Sunu Assurances followed with 5.88 per cent to close at 32k, while Regency Alliance Insurance depreciated by 4.26 per cent to close at 45k per share.

Sovereign Trust Insurance dipped four per cent to close at 24k, while Wapic Insurance depreciated by 3.92 per cent to close at 49k per share.

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The total volume traded increased by 9.76 per cent to 235.23 million units valued at N1.918 billion, and exchanged in 4,151 deals.

This was in contrast with 214.32 million shares worth N2.69 billion traded in 4,410 deals on Monday.

Transcorp topped the activity chart with 38.11 million shares valued at N40.13 million.

Guaranty Trust Holding Compnay (GTCO) followed with 18.73 million shares worth N476.49 million, while Jaiz Bank traded 14.99 million shares valued at N9.82 million.

Ecobank Transnational Incorporated sold 14.49 million shares worth N126.34 million, while FBN Holdings transacted 13.42 million shares valued at N161.06 million.

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