Guinness Nigeria Leads Gainers’ Chart as Index Rises 0.27%

By Dipo Olowookere

A total of 30 stocks appreciated in price on the floor of the Nigerian Exchange (NGX) Limited on Thursday as investors sustained their interest in the local equities.

The price gainers were led by Guinness Nigeria after its share price rose by 10.00 per cent yesterday to settle at N55.00, while Total Energies grew by 9.92 per cent to N264.90.

UPDC appreciated by 9.90 per cent to N1.11, RT Briscoe improved by 9.09 per cent to 36 kobo, while University Press gained 8.16 per cent to sell for N2.65.

On the losers’ log, there were nine members led by Veritas Kapital, which lost 4.35 per cent to quote at 22 kobo, Union Bank fell by 3.20 per cent to N6.05, Ikeja Hotel declined by 2.74 per cent to N1.42, Regency Assurance dropped 2.50 per cent to 39 kobo, while FCMB decreased by 2.34 per cent to N2.92.

Despite the growth posted by the bourse on Thursday, the level of activity waned as the trading volume, value and number of deals decreased by 33.35 per cent, 27.46 per cent and 7.87 per cent respectively.

A total of 198.1 million stocks worth N3.4 billion were traded in 4,294 deals as against the 297.3 million stocks worth N4.7 billion traded in 4,661 deals on Wednesday.

Closing the session as the most active stock was Chams with the sale of 16.7 million units valued at N3.5 million and was trailed by Transcorp with 15.4 million units worth N17.8 million.

Access Bank transacted 14.3 million shares valued at N149.5 million, UBA exchanged 12.5 million equities worth N109.8 million, while Flour Mills sold 12.2 million stocks for N389.4 million.

Business Post reports that apart from the industrial goods sector, which closed flat yesterday, every other index appreciated with the energy space growing by 1.82 per cent amid the return of queues at petrol stations in Lagos and Abuja over the existence of adulterated fuel in circulation.

The consumer goods counter appreciated during the session by 0.98 per cent, the banking index rose by 0.64 per cent, and the insurance counter increased by 0.33 per cent.

When the market closed by 2:30 pm, the All-Share Index (ASI) was up by 129.11 points to 47,286.34 points from 47,157.23 points, while the market capitalisation increased by N70 billion to N25.481 trillion from N25.411 trillion.