Price Appreciation of 18 Stocks Lift Index Further by 0.04% – NGX
Earnings and interim dividend declaration by listed firms have continued to lift transactions on the equities sector of the Nigerian Exchange Limited (NGX) as price appreciations in Eterna Plc and 18 stocks lifted the All-Share Index (ASI) further by 0.04 per cent in the third quarter.
Specifically, at the close of trading yesterday, the ASI rose by 27.11 per cent, representing an increase of 0.04 per cent, to close at 67,353.23 points. Similarly, the overall market capitalisation value gained N15 billion to close at N37.004 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Eterna, Zenith Bank, United Bank for Africa (UBA), Guaranty Trust Holding Company (GTCO) and Berger Paints.
Analysts at Vetiva Dealings and Brokerage, said: “Positive sentiment in the banks remain the major driver of the market. Barring any profit taking activities tomorrow, we expect another green close in that sector, as market look forward to Q3 results.”
As measured by market breadth, market sentiment was positive, as 19 stocks gained, while 18 stocks lost. Guinea Insurance recorded the highest price gain of 9.09 per cent to close at 24 kobo. Eterna followed with a gain of 6.86 per cent to close at N14.80 and Unity Bank up by 5.49 per cent to close at 96 kobo.
Jaiz Bank appreciated by 5.26 per cent to close at N1.60 kobo while Omatek Ventures rose by 4.55 per cent to close at 46 kobo. Veritas Kapital gained 4.17 per cent to close at 25 kobo.
Tantalizers increased by 3.45 per cent to close at 30 kobo. Mansard rose by 2.93 per cent to close at N4.22 kobo. Chams garnered 2.88 per cent to close at N1.43 kobo. Berger paints also added 1.69 per cent to close at N12.
On the other hand, Computer Warehouse Group (CWG) led the losers’ chart by 10 per cent to close at 95 kobo. R.T. Briscoe Nigeria followed with a decline of 8.77 per cent to close at 52 kobo, while Africa Prudential lost 7.14 per cent to close at N6.50 kobo.
FTN Cocoa Processors down by 6.29 per cent to close at N1.64, while Neimeth International Pharmaceuticals declined by 6.06 per cent to close at N1.55 kobo. UPDC depreciated by 5.30 kobo to close at N1.25 kobo. May&Baker shed three per cent to close at N4.85 kobo. CHI Plc dropped 2.46 per cent to close at N1.19 kobo. United Capital also dropped 2.35 per cent to close at N16.60 kobo.
The total volume traded advanced by 5.2 per cent to 397.56 million units, valued at N4.70 billion, and exchanged in 6,165 deals. Transactions in the shares of Wema Bank topped the activity chart with 88.986 million shares valued at N418.147 million.
Access Holdings followed with 35.607 million shares worth N598.485 million, while United Bank for Africa (UBA) traded 35.171 million shares valued at N659.134 million. Fidelity Bank traded 33.406 million shares valued at N279.513 million, while GTCO transacted 23.421 million shares worth N828.481 million.
