Gains in Geregu, 31 others lift index by N101 billion

Following renewed investors’ interest in Geregu and 31 stocks, the bulls resurfaced in the equities sector of the Nigerian Exchange Limited (NGX) yesterday, causing market capitalisation to rise by N101 billion.

At the close of transactions yesterday, the market capitalisation of listed equities rose by 0.18 per cent to close at N55.836 trillion from N55.735 trillion traded on Friday.

As a result year to date return went to 36.47 per cent as NGX printed 32 gainers against 23 losers. The volume of trading declined by 79.455 million, representing 24.68 per cent as investors traded 242.432 million shares valued at N5.126 billion against 321.887 million shares cost N7.354 billion exchanged hands the previous day in 8925 deals.

Transactions in the shares of AccessCorp led market activities with 24.898 million shares worth N575.101 million, Veritas Kapital followed with 24.182 million shares valued at N17.453 million, GTCO Plc traded 21.172 million shares worth N841.254 million.

FBNHoldings traded 17.238 million shares worth N439.389 million while Transnational Corporation of Nigeria exchanged 17.082 million shares valued at N229.224 million.

Further breakdown of yesterday’s transactions showed that
NCR, Chams Plc and Royal Express led gainers’ table with 10 per cent each to close at N4.40 kobo, N2.75 kobo and 77 kobo respectively.

SUNU Assurance followed with a gain of 9.5 per cent to close at N1.96 per cent. TIP added 9.43 per cent to close at N2.32 kobo. On the contrary, Infinity Savings recorded the highest loss, shedding 9.9 per cent to close at N7.19 kobo, JohnHolt trailed with a drop of 9.89 per cent to close at N2.19 kobo.

PZ Cusson fell by 9.87 per cent to close at N27.85 kobo. May and Baker shed 9.8 per cent to close at N6.36 kobo, Deap Capital declined by 7.14 per cent to close at 65 kobo.

Analysis of the sectoral index, showed that the insurance (+2.3 per cent), Consumer Goods (+0.6 per cent) and Oil & Gas (+0.2 per cent) indices recorded gains while the banking (-0.9 per cent) and Industrial Goods (-0.1 per cent) indices posted losses.

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