The stock market of the Nigerian Exchange Limited (NGX) yesterday rebounded from the previous training session’s loss as the benchmark index rose by 0.14 per cent, attributable to Investors’ interest in Seplat Energy and 24 others.
The NGX All-Share Index (ASI) increased by 64.77 basis points or 0.14 per cent to close at 47,272.04 basis points. Similarly, the overall market capitalisation size gained renewed N35 billion to close at N25.477 trillion.
Accordingly, the stock market Month-to-Date and Year-to-Date returns increased to +1.4per cent and +10.7per cent, respectively.
Performance across sectors was mixed, as the NGX Oil & Gas added 3.9per cent and NGX Insurance also gained 1.0per cent, while the NGX Consumer Goods dropped by 0.6per cent and NGX Banking declined by 0.3per cent. Elsewhere, the NGX Industrial Goods index closed flat.
Market sentiment was positive as 25 stocks gained relative to 18 losers. eTranzact International recorded the highest price gain of 10 per cent to close at N2.42, per share. Learn Africa followed with a gain 9.92 per cent to close at N2.66, while SCOA Nigeria rose by 9.69 per cent to close at N2.83, per share.
Royal Exchange went up by 9.62 per cent to close at N1.14, while R.T. Briscoe Nigeria appreciated by 8.86 per cent to close at 686 kobo, per share. On the other hand, Multiverse Mining & Exploration led the losers’ chart by 8.00 per cent to close at 23 kobo, per share. Japaul Gold and Ventures followed with a decline of 5.00 per cent to close at 38 kobo, while International Breweries shed 4.55 per cent to close at N5.25, per share.
Chams lost 4.35 per cent to close at 22 kobo, while Honey Well Flour Mills shed 3.87 per cent to close at N3.73, per share. The total volume traded increased by 47.7 per cent to 340.671 million units, valued at N3.858 billion, and exchanged in 5,383 deals. Transactions in the shares of custodian Investment topped the activity chart with 39.167 million shares valued at N282.066 million. Sterling Bank followed with 33.354 million shares worth N53.775 million, while Fidelity Bank traded 22.398 million shares valued at N68.952 million.
Access Bank traded 20.386 million shares valued at N209.682 million, while United Capital transacted 19.077 million shares worth N264.606 million.
Analysts at GTI Securities Limited said that, “Trading activities for yesterday closed positive reversing prior day’s negative sentiment. We expect the bullish sentiment to be sustained by investors taking positions, as more companies release their audited financials. Also, economic trends like the movement in oil prices can prove to be positive for the market.”
