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
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.”
Africa
Widespread government corruption going on in South Africa under President Ramaphosa: U.S. Govt
The report alleged that the South African government did not take credible steps to investigate, prosecute, and punish officials.
Lagos
Lagos civil servants with N35,000 salary now earn N170,000: Sanwo-Olu
Governor Babajide Sanwo-Olu said the civil servants began receiving the new wage in January.
Economy
SMEDAN launches competition to grow small businesses, enhance financial literacy
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has introduced a business pitch competition called ‘SMEDAN Speed Pitch’.
Abuja
Court dismisses suit seeking disqualification of Hannatu Musawa as minister
Justice James Omotosho, in a judgment, held that the plaintiffs lacked locus standi (legal right) to institute the suit.
World
Five teenagers charged with terrorism after Sydney Church stabbing
Five teenagers were charged with terrorism offences amid an ongoing investigation into the stabbing of two people at a Sydney Church earlier in April.
Agriculture
Nigeria urged to strengthen measures to protect wildlife
Gogo Ujile, SAFE-i director, made the appeal while addressing journalists in Port Harcourt.