Positioning in Geregu, Airtel Drive Stock Market Index Higher
The Nigerian stock market index advanced following renewed interest in GEREGU (+9.0%) and AIRTELAFRI (+0.9%). Thus, the All-Share Index advanced by 0.3% to close at 55,670.24 points. Accordingly, the Month-to-Date and Year-to-Date return settled at -0.2% and +8.6%, respectively.
Investors’ net worth on the Nigerian Exchange Ltd., (NGX) appreciated further by N146 billion on Thursday due to gains posted by some medium and large-capitalised stocks.
Specifically, the market capitalisation gained N88 billion or 0.29 per cent to close at N30.326 trillion, from N30.238 trillion reported on Wednesday. Also, the NGX All-Share Index dipped 161.63 points or 0.29 per cent, to close at 55,670.24 from 55, 508.61 posted on Wednesday.
Market breadth was negative as 17 stocks were on the gainer’s table while 26 were on the laggards. Sunu Assurances led the gainers’ table in percentage terms, gaining 10 per cent to close at 44k per share.
Dangote Sugar followed with 9.94 per cent to close at N19.35, while McNichols gained 9.72 per cent to close at 79k per share. Geregu Power gained by 9.02 per cent to close at N325, while National Salt Company added 8.93 per cent to close at N8.93 per share.
On the other hand, Sovereign Trust Insurance topped the losers’ chart in percentage terms, shedding 10 per cent to close at 27k per share.
Academy Press followed with a loss of 9.38 per cent to close at N1.16, while Transcorp shed 7.97 per cent to close at N1.65 per share.
Chams dipped 7.14 per cent to close at 26k, while NGX Group lost 6.55 per cent to close at N27.10 per share. Transcorp was the most active stock during the day, exchanging 29.75 million shares, valued at N39.15 million.
Access Bank followed with an exchange of 18.65 million shares worth N172.32 million, while UAC of Nigeria traded 14.02 million shares valued at N118.35 million.
Guaranty Trust Holding Company (GTCo) sold 13.06 million shares worth N348.63 million, while Zenith Bank exchanged 9.28 million shares valued at N224.61 million. In all, investors traded 154.56 million shares valued at N2.27 million in 4,385 deals.
Analysing by sectors, the Banking (-1.1%), Oil & Gas (-0.3%), and Insurance (-0.1%) indices declined, while the Industrial Goods index closed flat. The Consumer Goods (+0.6%) index was the sole gainer for the day.# Positioning in Geregu, Airtel Drive Stock Market Index Higher
