Stock Exchange up 0.66% as Traders Recover N180bn

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited had a breather on Tuesday, appreciating by 0.66 per cent after reporting losses in the last five consecutive trading sessions.

Dangote Cement, Oando, Access Holdings, Seplat and 10 others inspired the recovery witnessed yesterday, though the negative investor sentiment still persists as 22 stocks lost points during the session.

From the analysis of the data from the bourse, the industrial goods, energy and banking counters appreciated by 3.86 per cent, 0.68 per cent and 0.38 per cent apiece, while the consumer goods and insurance sectors depreciated by 0.11 per cent and 0.06 per cent respectively.

When the market closed for the day, the market capitalisation of the local stock exchange increased by N180 billion to N27.544 trillion from N27.364 trillion, while the All Share Index (ASI) improved by 335.01 points to 51,091.75 points from 50,756.74 points.

However, the level of transactions waned on Tuesday as traders bought and sold 167.0 million shares valued at N2.7 billion in 4,398 deals compared with the 345.0 million shares worth N3.1 billion traded in 5,075 deals on Monday, representing a decline in the trading volume, value and the number of deals by 10.86 per cent, 51.60 per cent and 13.34 per cent respectively.

Transcorp ended as the most transacted stock with 19.3 million units sold for N24.4 million, UBA sold 17.6 million units valued at N131.2 million, GTCO transacted 17.3 million units worth N365.2 million, Zenith Bank exchanged 12.8 million units valued at N281.9 million, while FBN Holdings traded 11.3 million units for N95.4 million.

On the gainers’ chart, Livestock Feeds was on top after its equity price rose by 10.00 per cent to N1.32, MRS Oil improved by 9.80 per cent to N16.25, Dangote Cement appreciated by 8.30 per cent to N270.00, NAHCO flew by 7.69 per cent to N8.40, while Royal Exchange climbed higher by 5.56 per cent to 95 kobo.

On the losers’ log, the duo of Learn Africa and BUA Foods finished on top after they lost 10.00 per cent each to settle at N2.25 and N49.50 respectively. Japaul went down by 9.68 per cent to 28 kobo, GlaxoSmithKline depreciated by 9.22 per cent to N6.40, while NASCON fell by 8.56 per cent to N11.75.