Equity Market Gains N156bn On First Trading Day

Domestic equity market opened transactions on the floor of Nigerian Exchange (NGX) on a positive note, gaining N156 billion. The NGX trading result showed that gain recorded in the shares of BuaCement, Oando, Seplat, Glaxosmith, Fidelity Bank and others boasted activities in the market. Market capitalisation of listed equities increased by 0.40 per cent to N38.712 trillion from N38.556 trillion reported the previous day. The NGX All Share Index also appreciated by 282.85 basis points to 70479.62 points from 70196.77 points it closed on Friday. A review of the investment showed that Thomas Way led gainers table in percentage terms, gaining 10 per cent to close at N4.07 per share, Chams Plc followed with a gain of 9.90 per cent to close at N2.22 per unit, Gloxasmith gained 9.68 per cent to close at N13.60 per share, Oando Plc up by 9.66 per cent to close at N9.65 per share, Japaul Gold gained 9.45 per cent to close at N1.39 per unit. On the contrary, ABC Transport recorded the highest loss during the day, dropping by 9.30 per cent to close at N0.78 per unit, Cornerstone Insurance trailed with a drop of 9.27 per cent to N1.37 per share. Champion Breweries gained 9.19 per cent to N3.36 per share, International Breweries down by 8.79 per cent to close at N0.21 per unit. Volume of trades declined by 19.348 million, representing 4.72 per cent as investors traded 391.013 million shares valued at N7.705 billion in 6837 deals against 410.361 million shares cost N9.163 billion exchanged hands the previous day in 6436 deals. Trading  in the shares of United Bank for Africa led market activities with 105.627 million shares valued at N2.137 billion, FBNHoldings followed with account of 33.267 million shares cost N602.498 million, Japaul Gold traded 21.348 million shares valued at N29.607 million, Fidelity Bank exchanged 20.438 million shares worth N175.964 million, AccessCorp exchanged 19.502 million shares valued at N33.657 million.

Nigeria’s Domestic Equity Market Gains N16bn

In the Nigerian Exchange, trading activity witnessed continued growth, resulting in a market capitalization increase of N16 billion. The total market capitalization of listed equities grew by 0.04%, reaching N37.004 trillion compared to the previous day’s N36.988 trillion. The NGX All Share Index (ASI) also showed an uptick, rising to 67353.23 points from 67326.12 points on the previous trading day. Top gainers on the equity market include Guinea Insurance, leading the gainers table with a 9.09% increase to N0.24 per share, followed by Eterna Plc with a 6.86% gain, closing at N14.80 per share. Unity Bank added 5.49%, closing at N0.96 per share, Jaiz Bank with a 5.26% increase to N1.60 per unit, and Omatek with a 4.55% gain, closing at N0.46 per share. On the flip side, CWG recorded the highest loss, dropping by 10% to close at N8.55 per share, followed by RTBriscoe with an 8.77% loss to close at N0.55 per unit. AfriPrudential fell by 7.14%, closing at N6.50 per unit, and FTNCocoa dipped by 6.29% to close at N1.64 per share. Neimeth International Pharmaceutical was down by 6.06% to N1.55 per share. The total volume of transactions increased by 19.59 basis points, representing a 5.18% rise, with investors trading 397.560 million shares valued at N4.699 billion in 6,165 deals. This is compared to 377.970 million shares worth N5.169 billion traded in 6,729 deals. Wema Bank was the most traded stock by volume, with 88.986 million shares valued at N418.147 million. AccessCorp followed with 35.606 million shares at N59.848 million, United Bank for Africa traded 35.171 million shares at N659.134 million, Fidelity Bank exchanged 33.405 million shares valued at N279.512 million, and GTCO Plc traded 23.421 million shares at N82.848 million.