Stock market extends gains marginally by 0.02%

Nigerian Exchange Ltd.

THE Nigerian Exchange Ltd. (NGX) recorded a marginal gain of N6 billion on Thursday due to sustained bargain-hunting.

Specifically, the market capitalisation, which opened at N28.658 trillion, rose by N6 billion or 0.02 per cent to close N28.664 trillion.

Also, the All-Share Index increased by 10.91 points or 0.02 per cent to close at 52,626.42 against 52, 615 .51 achieved on Wednesday.

As a result, the year-to-date (YTD) return stood at 2.68 per cent.

The gains were driven by price in Access Holdings, Ecobamk Trannational Incorporated(ETI) and Wapco.

Consequently, market breadth closed positive as 29 stocks were on the gainer’s table while 11 on the laggards’ log.

International Energy Insurance led the gainers’ table in percentage terms, gaining 9.76 per cent  to close 45k per share.

Computer Wharehouse Group trailed with 9.47 per cent to close at N1.04, while Caverton Offshore Support Group rose by 9.38 per cent to close at N1.05 per share.

John Holt followed with a gain of 9.09 per cent to close at 52k, while Linkage Assurance grew by 8.33 per cent to close at 52k per share.

On the other hand, C&I Leasing  led the losers’ chart in percentage terms, losing 10 per cent to close at N3.15 per share.

Chams and  Soverign Trust  Assurance dipped by 7.14 per cent each to close at 26k per share, respectively.

UPDC Real Estate Investment Trust dropped by 6.06 per cent to close at N3.10,  while Royal Exchange lost by 5.56 per cent to close at 85k per share.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 59.32 per cent.

A total of 129.04 million shares valued at N1.82 billion were exchanged in 3,183 deals.

Transactions in the shares of Zenith Bank d topped the activity chart with 18.55 million shares valued at N445.74 million.

GTCO followed with 18.52 million shares worth N451.13bmillion, while United Bank for Aftica (UBA)  traded 9.73 million shares valued at N78.62 million.

Royal Exchange traded 9.39 million shares valued at N7.79 billion, while Access Holdings transacted 7.68 million shares worth N69.49 million (NAN)