BUSINESS

NGX Gains N101bn On Investors Buying Interest In Geregu Power, 31 Others

 

The equities market of the Nigerian Exchange Limited (NGX) has extended gains from the previous session, as the overall capitalization gained N101 billion on buy interests in Geregu Power Plc and 31 others.

The All-Share Index (ASI) gained 183.95 basis points or 0.18 per cent to close at 102,042.32 basis points. Also, market capitalisation rose by N101 billion to close at N55.836 trillion.

As measured by market breadth, market sentiment was positive, as 32 stocks ganed relative to 23 losers. Chams Holding Company, NCR Nigeria and Royal Exchange emerged the highest price gainer of 10 per cent each to close at N2.75, N4.40 and 77 kobo respectively, per share. SUNU Assurance followed with a gain of 9.50 per cent to close at N1.96, while The Initiates Plc (TIP) advanced by 9.43 per cent to close at N2.32, per share.

On the other side, Infinity Trust Mortgage Bank led others on the losers’ chart with 9.90 per cent to close at N7.19, per share. John Holt followed with a decline of 9.88 per cent to close at N2.19, while PZ Cussons Nigeria shed 9.87 per cent to close at N27.85, per share.

May & Baker Nigeria went down by 9.80 per cent to close at N6.35, while Deap Capital Management and Trust depreciated by 7.14 per cent to close at 65 kobo, per share.

However, the total volume of trade decreased by 24.68 per cent to 242.433 million units, valued at N 5.125 billion, and exchanged in 8,715 deals. Transactions in the shares of Access Holdings led the activity with 24.899 million shares worth N575.101 million. Veritas Kapital Assurance followed with account of 24.182 million shares valued at N17.455 million, while Guaranty Trust Holding Company (GTCO) traded 21.173 million shares valued at N841.255 million.

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FBN Holdings (FBNH) traded 17.239 million shares worth N439.390 million, while Transnational Corporation (Transcorp) traded 17.083 million shares worth N229.225 million.

This week, United Capital Plc said “we expect the technical adjustment of the All-share index to continue. Also, given the market’s anticipation of a hawkish stance by the Monetary Policy Committee at its next meeting, we expect investor focus to shift towards the fixed-income markets. Nonetheless, crucial corporate disclosures such as dividend declarations are set to move the market.”

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