Economy
THE Nigerian Exchange Ltd. (NGX) on Wednesday gained N14 billion as market capitalisation closed at N26.531 trillion from N26.517 trillion recorded on Tuesday.
Also, the All Share Index (ASI) increased marginally by 10.25 basis points or 0.02 per cent gain to close at 49,171.70 as against 49,161.45 posted the previous day.
Consequently, the year-to-date (YTD) return rose to 15.11per cent.
Analysts at Vetiva Dealing & Brokage said, “As expected, the market reacted negatively to the MPR hike as sell-offs were recorded across board and just like on Monday, price appreciation in BUA Cement lifted market performance marginally.
“Barring any positive movement in any of the heavy-weight names, we still expect the negative sentiment to persist as investors look to more attractive alternative asset class.”
A breakdown of the price movement table showed that Chams topped the gainers’ table with a gain of eight per cent to close at 27k per share.
Ardoval Plc trailed with a gain of 7.42 per cent to close at N13.75, while Sovereign Insurance rose by 3.57 per cent to close at 29k per share.
BUA Cement was up by per cent to close at 52k, while Jaiz Bank appreciated by 2.70 per cent to close at 76k per share.
Conversely, Japaul Gold &Venture led the lossers’ table, dropping by 10 per cent to close at 27k per share.
Royal Exchange followed with a loss of 9.8 per cent to close at 92k, while Consolidated Hallmark Insurance declined by 8.62 per cent to close at 53k per share.
RTBriscoe decreased by 8.57 per cent to close at 32k, while Fidson fell by 7.54 per cent to close at N9.2 per share.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 25.36 per cent.
A total of 101.57 million shares valued at N1.20 billion were exchanged in 3,981 deals compared with 139.24 million shares valued at N1.60 billion exchanged in 3, 421 deals on Tuesday.
Guranty Trust Holding Company (GTCO) recorded the highest volume of 14.34 million shares to close at N259.04 million, followed by Zenith Bank which traded 11.56 million shares valued at N228.91 million.
FBN Holdings sold 6.28 million shares at N61.23 million and Transcorp transacted 6.2 million share at N6.27 million.
Also, Chams sold 5.7 million share worth N1.48 million. (NAN)
A.I
Tags: BUA Cement Consolidated Hallmark Insurance Japaul Gold &Venture NGX Vetiva Dealing & Brokage
