DESPITE price losses that outweighed gains, transactions on the equities sector of the Nigerian Exchange Limited (NGX) closed on an upward note, yesterday, as gains in 19 stocks lifted the All-Share Index (ASI) further by 0.09 per cent.
Specifically, market capitalisation of listed equities increased by 0.09 per cent to close at N25.385 trillion from N25.361 trillion recorded on Tuesday. Similarly, the ASI appreciated by 44.43 basis points to 47109.25 points from 47064.82 traded on Tuesday.
Analysts at the Vetiva Dealing and Brokerage said: “Today’s (yesterday) session had stocks yielding to the sell pressure, hence, the negative close across board. We anticipate a mixed session tomorrow, as investors begin to take advantage of the price dip in some of these counters.’”
In 4965 transactions, investors traded 318.269 million shares worth N8.27 billion, compared to 274.206 million shares worth N3.817 billion in 5331 transactions. 19 stocks saw their prices rise, while 29 saw their prices fall.
Learn Africa was the day’s best-performing stock, rising 9.94% to close at N1.99 kobo. Scoa Plc gained 9.55 percent to close at N1.95 kobo after that. RTBriscoe closed at 50 kobo, up 8.70% from the previous day. Veritas Kapital closed at 25 kobo, up 8.70 percent. Japaul Gold and Ventures rose 8.57 percent to 38 kobo at the close.
UACN rose 6.52 percent to close at N9.80 kobo, while Royal Exchange gained 8.43 percent to close at 90 kobo. NEM closed at N4.09 kobo, up 5.14 percent.
Multiverse closed at 22 kobo, up 4.76 percent. Jaiz Bank closed at 70 kobo, up 4.48 percent. Stanbic IBTC rose 2.21 percent to N34.65 kobo at the close. Unity Bank closed at 51 kobo, up 2.00 percent.
UPDC, on the other hand, suffered the worst losses during the day, losing 6.36 percent to settle at N1.03 kobo.
Regal Insurance fell 5.13 percent to 37 kobo, trailing the market. C&I Leasing lost 4.7 percent of its value, closing at N3.60 kobo. Prestige Insurance closed at 43 kobo, down 4.44 percent.
Chams Plc closed at 22 kobo, down 4.35 percent. Livestock fell 3.50 percent to N1.93 kobo at the closing. ABC Transport fell 3.03 percent to 32 kobo at the close. FTN Cocoa lost 2.78 percent of its value to close at 35 kobo.
Mansard fell 2.08 percent to five kobo at the close. Honeywell flourmills also fell 2.06% to N3.33 kobo at the end.
Access Bank was also the most active stock throughout the day, with 47.884 million shares worth N496.246 million changing hands in 221 transactions.
MTN Nigeria Plc followed with 21.697 million shares worth N4.339 billion in 223 transactions. In 276 transactions, Zenith Bank exchanged 17.293 million shares for N464.307 million.
In 180 transactions, United Bank for Africa sold 16.852 million shares for N143.132 million, while Nigerian Breweries exchanged 16.836 million shares worth N800.796 million.
