NGX Index Jumps 0.18% as Investors Gain N36bn

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited appreciated by 0.18 per cent on Tuesday as investors prepare for the two-day holiday declared by the federal government to celebrate the end of Ramadan by Muslims on Wednesday and Thursday.

During the session, the sustained bargain hunting pushed the All-Share Index (ASI) higher by 70.22 points to 39,382.96 points from 39,312.74 points and expanded the market capitalisation by N36 billion to N20.527 trillion from N20.491 trillion.

However, the activity level was mixed as the trading value increased by 2.47 per cent to N3.4 billion from N3.3 billion, while the trading volume and number of deals reduced by 8.51 per cent and 12.37 per cent apiece to 296.6 million units from 324.2 million units and to 4,265 deals from 4,867 deals respectively.

At the close of business, Access Bank was the most traded stock with the sale of 58.6 million units worth N494.2 million, followed by UAC Nigeria, which traded 38.3 million units valued at N394.2 million.

Fidelity Bank transacted 27.2 million shares for N62.4 million, Zenith Bank exchanged 26.4 million equities worth N609.7 million, while Transcorp traded 15.6 million stocks worth N14.2 million.

In terms of the performance of the sectors, the insurance and industrial goods counters appreciated by 1.27 per cent and 0.70 per cent apiece, while the banking, energy and consumer goods sectors depreciated by 0.33 per cent, 0.14 per cent and 0.02 per cent respectively.

On the price movement chart, Meyer topped the gainers’ log after its value rose by 9.62 per cent to 57 kobo, followed by Presco, which gained 9.58 per cent to settle at N78.90.

UAC Property improved by 9.21 per cent to 83 kobo, Africa Prudential appreciated by 9.17 per cent to N6.55, while Unity Bank gained 9.09 per cent to sell for 60 kobo.

On the price losers’ chart, Regency Alliance Insurance claimed the top spot after its share price went down by 8.82 per cent to finish at 31 kobo.

Honeywell Flour declined by 5.83 per cent to N1.13, Cutix went down by 4.98 per cent to N2.10, United Capital dropped 4.00 per cent to N5.76, while Coronation Insurance reduced by 3.77 per cent to 51 kobo.