NGX resumes trading week with 0.04% gain

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NGX resumes trading week with 0.04% gain
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Trading on NGX Limited resumed for the week with positive marginal gain of 0.04 per cent on sustained investors sentiment.

The All-Share Index advanced by 0.04 per cent or 16.71 points to close at 39,318.52 from 39,301.82 posted on Friday, while the market capitalisation increased by nine billion naira to N20.577 trillion compared with N20.568 trillion achieved on Friday.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst Nigerian Breweries, Fidson Healthcare, Lafarge Africa, Africa Prudential and Guaranty Trust Bank.

Stock market watches anticipated that profit-taking would dominate trading following gains posted by the stock market last week.

Consequently, market sentiment was positive with 25 gainers compared with 17 laggards.

Linkage Assurance and Transcorp dominated the gainers’ chart in percentage terms, gaining 10 per cent each to close at 88k per share, respectively.

Cornerstone Insurance followed with 9.62 per cent to close at 57k, while Fidson Healthcare appreciated by 9.09 per cent to close at N4.80 per share. Unity Bank gained 8.47 per cent to close at 64k per share.

On the other hand, Conoil led the losers’ chart in percentage terms with 9.33 per cent to close at N17.00 per share.

Ikeja Hotel followed with a decline of 9.09 per cent to close at N1, while Sovereign Trust Insurance shed eight per cent to close at 23k per share. Nigerian Aviation Handling Company shed 6.67 per cent to close at N2.10, while Jaiz Bank depreciated by 4.76 per cent to close at 60k per share.

Volume of shares traded increased by 14.88 per cent with an exchange of 329.74 million shares valued at N2.06 billion in 4,308 deals, as against 287.04 million shares worth N3.04 billion transacted in 3,578 deals on Friday.

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