NGX extends bullish run with N262 billion profit
The Nigerian equities market extended its positive performance on Tuesday, opening February with a gain of N262 billion just as the index crossed the 27,000 mark.
Specifically, the market capitalisation gained N262 billion to close at N25.386 trillion from N25.124 trillion achieved on Monday.
Also, the All-Share Index (ASI) increased by 486.54 points or 1.04 per cent to close at 47,111.21 from 46,624.67 trillion.
The upturn was due to gains recorded in large and medium capitalised stocks, amongst which are: Seplat Energy, Presco, MTN Nigeria Communications (MTNN), Conoil and Lafarge Africa.
Analysts at Afrinvest Ltd. anticipated an extended bullish run as more corporates released positive earnings results.
The market closed positive as 36 stocks gained relative to 21 losers, with Seplat Energy recording the highest gain of 10 per cent to close at N869 per share.
Conoil followed with 9.79 per cent to close at N24.10, while Academy Press rose by 9.57 per cent to close at N1.03 per share.
R. T. Briscoe rose by 9.09 per cent to close at 24k, while Presco appreciated by 8.75 per cent to close at N105 per share.
On the other hand, Caverton Offshore Support Group led the losers’ chart by 9.50 per cent to close at N1.62 per share.
Eterna followed with 9.17 per cent to close at N5.45, while NCR shed 9.09 per cent to close at N3 per share.
Japaul Gold and Ventures lost 7.50 per cent to close at 37k, while Ecobank Transnational Incorporated shed 7.20 per cent to close at N11.60 per share.
However, the total volume traded decreased by 21.63 per cent to 341.52 million units valued at N3.69 billion and exchanged in 6,417 deals.
This was in contrast with 435.79 million shares worth N3.44 billion traded in 6,482 deals on Monday.
Transactions in the shares of Transcorp topped the activity chart with 32.11 million shares valued at N37.46 million.
Fidelity Bank followed with 25.16 million shares worth N71.50 million, while Access Bank traded 23.46 million shares valued at N238.28 million.
Guaranty Trust Holding Company (GTCO) traded 21.12 million shares valued at N587.32 million, while Nigerian Exchange Group (NGXGroup) transacted 20.51 million shares worth N502.54 million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Rights
Outrage as Zimbabwean husband flees UK after alleged murder of wife, daughters
The case has caused outrage on social media, with many calling for discussion about violence against black women.
Heading 2
Trump orders more U.S. strikes to degrade Iran’s grip on Strait of Hormuz
President Donald Trump has ordered more strikes on Iran.
Economy
Japa is modern-day slavery; Nigerians at home better than those abroad: Tinubu Govt
“Do you know where the majority of them are working? Care homes,” said the presidential spokesman.
Abuja
Abuja driver convicted for ramming into FRSC marshal, crushing patrol vehicle
A 26-year-old Abuja driver has been convicted for assaulting an FRSC officer and damaging a vehicle.
Heading 1
Lagos assembly advances anti-begging bill as Sanwo-Olu govt cracks down on beggars
The Lagos State House of Assembly on Wednesday passed for second reading a bill seeking to prohibit street begging across the state.
Economy
Nigerian investors gain N3.45 trillion as equities market surges
The Nigerian stock market sustained its bullish rally on Tuesday, with investors gaining N3.450 trillion, driven by renewed buying interest in large- and mid-cap stocks.
