Economy
BULLISH sentiment continued at the stock market of the Nigerian Exchange Ltd.(NGX) as the performance indices recorded 0.05 per cent to close at 49,499.43 points.
Specifically, the All-Share Index (ASI), which rose by 0.05 per cent, gained 24 points to close at 49,499.43 as against 49,475.43 posted on Wednesday.
Consequently, the year-to-date (YTD) return rose to 15.88 per cent.
Also, the market capitalisation gained N13 billion or 0.05 per cent to close at N26.961 trillion from N26.947 trillion recorded at the previous section.
Gains in Tier-One stocks such as Guaranty Trust Holding Company (GTCO), FBN Holdings and Stanbic Bank drove the market’s positive performance.
Analysis of the market activities showed that it was lower relative to the previous session.
The value of transactions downed by 50.47 per cent with 132.57 million shares valued at N3.14 billin which were exchanged in 2,999 deals.
The market breadth closed positive as 13 stocks advanced, while 12 others were on the laggard’s table.
A breakdown of the price movement table showed that Julius Berger topped the gainers’ table with an increase of 9.91 per cent to close at N23.30 per share.
Champion Breweries trailed with a gain of 9.3 per cent to close at N4.70, while Ardova rose by 9.2 per cent to close at N19 per share.
Thomas Wyatt Nigeria was up by 8.82 per cent to close at 74k, while Japaul Gold and Ventures gained by 7.69 per cent to close at 28k per share.
Conversely, UPDC Real Estate Investment Trust led the losers’ table, dropping by 6.45 per cent to close at N7.90 per share.
Lasaco Assurance followed with a loss of 5.56 per cent to close at 85k, while University Press went down by 5.26 per cent to close at N1.80, per share.
WAPIC Insurance shed five per cent to close at 38k, while Jaiz Bank lost by 2.36 per cent to close at 83k, per share.(NAN)
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Tags: Nigerian Exchange Ltd
