NGX Pops as Investors Take Position in Zenith, Airtel, Geregu
The equities segment of the Nigerian Exchange pops on Monday as investors take positions in mid and large-cap companies amidst earnings release. Today, the market consolidated on its previous week’s gain.
Due to large bargain hunting, equities market capitalisation gained N272 billion or 0.95 per cent to close at N28.953 trillion as against N28.681 trillion recorded on Friday.
Data from the local bourse shows that the All-Share Index (ASI) gained 499.95 points or 0.95 per cent to settle at 53,157.83 as against 52,657.88 recorded on Friday. The positive performance was driven by stocks of Geregu, Zenith Bank, Airtel Africa and Wapco, pushing the equities market the year-to-date return upward to 3.72 per cent.
Market breadth closed positive as 28 stocks advanced, while 15 others declined. A breakdown of price movement showed that John Holt and Geregu Power topped the gainers’ table with a gain of 10 per cent each to close at N1.21 and N176 per share, respectively.
Nigerian Aviation Handling Company trailed with a gain of 9.62 per cent to close at N8.55, while International Energy Insurance rose by 9.52 per cent to close at 69k per share. Mayer& Baker Nigeria was up by 8.26 per cent to close at N4.85 per share. Conversely, Wapic Assurance led the losers’ table, dropping by 8.89 per cent to close at 41k per share.
Tripple Gee followed with a loss of 8.57 per cent to close at 96k per share. Royal Exchange decreased by 7.14 per cent to close at 78k, while Honeywell Flour Mills fell by 6.44 per cent to close at N2.18 per share.
UPDC dropped by 5.94 per cent to close at 95k per share. Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 141.78 per cent.
A total of 201.36 million shares valued at N5.67 billion were exchanged in 4,332 deals while sectoral performance was mixed. The banking index gained 0.7%, the Consumer Goods index inched up by 0.2% and Industrial Goods popped up by 0.1%.
The Oil & Gas index closed flat while the Insurance index lost 0.2% – being the sole loser for the day. As measured by market breadth, market sentiment was positive (1.9x), as 28 tickers gained relative to 15 losers.
GEREGU (+10.0%) and JOHNHOLT (+10.0%) topped the gainers’ list, while WAPIC (-8.9%) and TRIPPLEG (-8.6%) recorded the most significant losses of the day. >>>NGX Pops as Investors Take Position in Zenith, Airtel, Geregu
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