NGX index closes flat as market cap up N230.80m


By Temitope Adebayo

At end of yesterday’s trading activity on the equities market of the Nigerian Exchange Limited (NGX), the market benchmark index closed flat, as the benchmark index settled at 51,953.41 points, while the market capitalization gained N230.80million to close at N28.30trillion.

Specifically, the All Share Index (ASI) closed at 51,953.41 points, slightly higher than 51,952.99 points closed the previous day

The slight upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Berger Paints, Skyway Aviation Handling Company, International Breweries, Dangote Sugar Refinery and Multiverse Mining and Exploration.

As measured by market breadth, market sentiment was positive, as 17 stocks gained relative to 11 losers. Skyway Aviation Handling Company recorded the highest price gain of 10 per cent to close at N5.50, per share. Associated Bus Company followed with a gain of 9.68 per cent to close at 34 kobo and Berger Paints up by 8.57 per cent to close at N7.60, per share.

International Breweries rose by 7.41 per cent to close at N4.35, while Multiverse Mining and Exploration gained 4.17 per cent to close at N2.50, per share. On the other hand, Royal Exchange led the losers’ chart by 10 per cent to close at 54 kobo, per share. Champion Breweries followed with a decline of 9.84 per cent to close at N4.58, while Computer Warehouse Group (CWG) declined by 7.53 per cent to close at 86 kobo, per share.

Mutual Benefits Assurance declined 5.88 per cent to close at 32 kobo, while Nigerian Exchange Group shed 4.23 per cent to close at N24.90, per share.

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Also, the total volume traded declined by 85.2 per cent to 255.161 million units, valued at N1.787 billion, and exchanged in 3,890 deals. Transactions in the shares of Transnational Corporation (Transcorp) topped the activity chart with 117.529 million shares valued at N163.057 million.

Fidelity Bank followed with 38.031 million shares worth N200.387 million, while United Bank for Africa (UBA) traded 19.816 million shares valued at N169.194 million.

Zenith Bank traded 11.385 million shares valued at N290.036 million, while Royal Exchange transacted 5.933 million shares worth N3.263 million.

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Ihesiulo Grace

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