NGX Records Large Gain as Investors Hunt for Value
Equities investors in the Nigerian Exchange record large gain on Tuesday over fresh bargain hunting in the local bourse. Stock market performance indicators were lifted higher as there were interest in some medium and largely capitalised stocks.
Specifically, the market capitalisation garnered N116 billion or 0.45 per cent to close at N25.907 trillion from N25.791 trillion on Friday. Also, the All-Share Index advanced by 214.49 points or 0.45 per cent to close at 47,565.92 against 47,351.43 achieved on Friday.
Accordingly, the year-to-date return increased to 11.35 per cent. The upturn was impacted by gains by stocks, amongst which are: May and Baker, Access Holding, United Bank for Africa (UBA) and NGX Group.
The market breadth closed negative with 12 gainers in contrast with 15 laggards. May and Baker led the gainers’ chart in percentage terms by 9.76 per cent to close at N4.05 per share.
Ikeja Hotel followed with a gain 9.73 per cent to close at N1.24, while BUA Cement appreciated by 8.65 per cent to close at N56.50 per share. Conerstone rose by eight per cent to close at 54k, while Unity Bank appreciated by 7.32 per cent to close at 44k per share.
On the other hand, University Press led the losers’ chart in percentage terms by 8.70 per cent to close at 21k per share. AXA Mansard Insurance followed with 8.74 per cent to close at N1.50, while Cadbury shed 6.94 per cent to close at N11.40 per share.
FTNCocoa lost 6.67 per cent to close at 28k per share. Caverton Offshore Support Group depreciated by 5.94 per cent to close at 95k, while Cutix fell by 4.63 per cent to close at and N2.06 per share, respectively.
Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 38.87 million shares valued at N659.1 million. READ:NGX Gains N41 bln as Investors Hunt Value Stocks
FBN Holdings followed with 22.83 million shares worth N216.87 million, while Transcorp traded 9.61 million shares valued at N10.08 million. NGX Group traded 6.28 million shares valued at N134.53 million, while Chams transacted 5.31 million shares worth N1.45 million.
In all, the total volume of shares traded increased by 8.47 per cent to 125.65 million shares worth N1.9 billion traded in 4,188 deals. This was in contrast with 137.28 million shares valued at N1.71 billion transacted in 3,845 deals on Friday.
# NGX Records Large Gain as Investors Hunt for Value#