NGX Gains as Investors Position in Geregu, UBA Shares

NGX Gains as Investors Position in Geregu, UBA Shares

The equities segment of the Nigerian Exchange (NGX) on Friday gained N18 billion or 0.7 per cent as market capitalisation closed at N24.112 trillion from N24.094 trillion recorded on Thursday.

Stockbrokers said there were pockets of buying interest in tickers such as FTNCOCOA, GEREGU, UACN, UBA, and UCAP as their respective share prices jumped as the market closed for the week.

Also, the Nigerian Exchange All-Share Index (ASI) increased by 32.48 basis points or 0.7 per cent to close at 44, 269.18 as against 44,236.70 posted the previous day. Consequently, the year-to-date (YTD) return rose to 3.63 per cent.

Buying interest in stocks of GEREGU and United Bank for Africa (UBA) was the sole driver of the market’s performance.

A breakdown of the price movement table showed that FTN Cocoa topped the gainers’ table with a gain of 9.68 per cent to close at 34k per share. Regency Alliance Insurance and Linkage Insurance trailed with a gain of 8.33 per cent each to close at 26k, and 29k per share, respectively.

Geregu Power was up by 8.21 per cent to close at N120, while Trans Nationwide Express appreciated by 8.11 per cent to close at 80k per share. Conversely, Custodian Insurance led the losers’ table, dropping by 9.23 per cent to close at N5.90 per share.

Today, Chams followed with a loss of eight per cent to close at 23k, while Academy Press declined by 6.67 per cent to close at N1. 26 per share. Jaiz Bank decreased by 5.05 per cent to close at 94k, while Cap fell by 4.79 per cent to close at N16.90 per share.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 132 per cent.

A total of 663.82 million shares valued at N4.42 billion were exchanged in 3,417 deals compared with 139.24 million shares valued at N1.60 billion exchanged in 3, 421 deals on Tuesday.

FTNCocoa recorded the highest volume of 350.24 million shares to close at N108.59 million, followed by Access Holdings which traded 190.37 million shares valued at N1.52 billion.

Fidelity Bank sold 43.27 million shares at N177.42 million and Guaranty Trust Holding Company (GTCO) transacted 19.64 million shares at N345.68 million. Also, Geregu Power sold 134.41 million shares worth N1.38 billion.

Sectorial performance was a mixed bag, as the NGX Banking index and the NGX Industrial index declined by 0.29% and 0.02%, respectively.  READ: Geregu Power, Chaired by Femi Otedola, to Raise N40bn Bonds

Market data shows that the NGX Insurance index and the NGX Consumer Goods index advanced by 0.87% and 0.01%, respectively. The NGX Oil/Gas index remained flat. # NGX Gains as Investors Position in Geregu, UBA Shares