NGX: All-Share Index Hits 72,000 Mark

The All-Share Index (ASI), one of the performance indices of the equity market on Nigerian Exchange Ltd. (NGX), crossed 72,000 mark, increasing to 72,299.79 points on Wednesday.

The figure represents an increase of 392.53 points, representing a 0.55 per cent when compared with 71,907.26 recorded at the previous session.

Also, the market capitalisation closed with a gain of N215 billion or 0.55 per cent.

The market capitalisation closed at N39.564 trillion as against N39.349 trillion posted on Tuesday.

The upward trend was due to sustained stock trading in Tier-one banks namely Access Holdings, Guaranty Trust Company(GTCO), Zenith Bank, Sterling Bank and United Bank of Africa(UBA).

As result the Year-to-Date (YTD) return rose to 41.07 per cent.

Access Holdings was the most traded stock by volume with N60.18 millon, while UBA led by value with N69.60 billion units traded.

SCOA Nigeria led the gainers’ chart in percentage terms by 9.98 per cent to close at N1.78 per share, while Infinity followed with a gain of 9.86 per cent to close at N2.34.

Access Holdings rose by 8.09 per cent to close at N22.05 per share.

It was followed by Cornerstone Insurance which went up by 7.41 per cent to close at N1.45, while Transcorp Hotel appreciated by 6.83 per cent to close at N46.90 per share.

On the contrary, Universal Press Plc led the losers’ chart in percentage terms by 9.82 per cent to close at N2.48per share, while SUNU Assurance followed with 9.38 per cent to close at N1.16 per share.

Eterna shed 8.03 per cent to close at N11.45, Flour Mill lost 4.57 per cent to close at N30.30, while Chams declined by 4.04 per cent to close at N1.90 per share. Nigeria Eurobond Slumps after CBN Resumes OMO Auction

“The NGXBNK index has returned 5.77 per cent Week-to-Date (WTD).

“While we still anticipate the sector to dominate activity chart as some investors take position ahead of full year results, we expect gains to moderate, with some profit taking actions,” said analysts at Vetiva Securities Ltd.