NGX sustains gain for second consecutive days
The Nigerian stock market gained for the second consecutive session as market capitalisation increased by N153 billion to close at N27.697 trillion from N27.544 posted on Tuesday.
Also, the All-Share Index (ASI) ended 0.56 per cent stronger to close at 51,377.21 points from 51,091.75 recorded on Tuesday.
The performance was primarily driven by sustained rebounds in large capitalised stocks such as First Bank of Nigeria (FBNH), Stanbic Bank, Bua Foods, Dangote Cement, MTN Nigeria, among others.
As a result, the ASI Year-to-Date (YTD) increased to 20.28 per cent.
Market breadth closed positive as 17 stocks appreciated while 16 declined.
EllahLake recorded the highest price gain of 10 per cent to close at N4.40 per share.
Presco followed with a gain of 9.71 per cent to close at N183 per share, while FBNH rose by 9.52 per cent to close at N9.20 per share.
Livestock rose by 9.09 per cent to close at N1.44, while Courteville Business Solutions gained 8.70 per cent to close at 50k per share.
On the other hand, Northern Nigeria Flour Mill (NNFM) led the losers’ chart by 9.91 per cent to close at N9.55 per share.
JohnHolts depreciated by 9.86 per cent to close at 64k and CWG dropped by 9.09 per cent to close at 80k per share.
ChiPlc followed with a decline of 8.82 per cent to close at 62k per share, while Glaxosmith lost 6.25 per cent to close at N6 per share.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 16.68 per cent.
A total of 229.37 million shares valued at N3.2 billion were exchanged in 4,536 deals.
Transactions in the shares of Oando topped the volume chart with 34.64 million shares valued at N184.98 million.
First City Monument Bank (FCMB) followed with 26.2 million shares worth N91.68 million, while United Bank for Africa (UBA) traded 26.02 million shares valued at N194.05 million.
Accesscorp traded 23.77 million shares valued at N216.29 million, while Guaranty Trust Holding Company (GTCO) transacted 15.83 million shares valued at N332.39 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
Enugu
Enugu: Police launch manhunt for killers of suspected ritualists
The police command in Enugu says it launched a manhunt for people who lynched two suspected ritualists in the Nsukka axis on July 4.
Politics
Buhari reshuffles cabinet, swears in new ministers
President Muhammadu Buhari has announced a minor cabinet reshuffle as he swears in seven new ministers in the State House, Abuja, on Wednesday.
World
Boris Johnson faces UK parliamentary grilling, desperate to remain PM
UK PM Boris Johnson is struggling to maintain a grip on power in No 10 Downing Street as ministers and aides continue to quit his government in protest at his leadership.
Rights
Court orders NIMC to release Ekweremadus’ alleged victim’s biodata
The Ekweremadus’ case is expected to continue in the UK on July 7. Their alleged victim was identified as a homeless 15-year-old from Lagos.
Politics
Nigeria’s security agencies in show of force long after Boko Haram raided Kuje prison
Armoured tanks were positioned around Kuje Prison junction as security operatives patrolled the vicinity.
World
Court to rule on EU Parliament’s refusal to recognise ex-Catalan president
Mr Puigdemont is also seeking damages for the monthly parliamentary allowance he did not receive as a result.
