Equities market commences September on positive note, appreciates by N29bn

The new month of September opened to extend the equities market of the Nigerian Exchange Limited (NGX) on a bullish run as the market capitalisation gained N29 billion at the close of trading activities.

In summary, the NGX All-Share Index (ASI) expanded by 53.29 basis points or 0.11 per cent to close at 49,889.80 basis points, while the overall market capitalisation value gained N29 billion to close at N26.909 trillion. 

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; BUA Cement, Flour Mills of Nigeria, Access Holdings, FCMB Group and Pharma-Deko Plc.

As measured by market breadth, market sentiment was positive as 14 stocks gained relative to 12 losers. Pharma-Deko recorded the highest price gain of 7.43 per cent to close at N1.88 per share. Consolidated Hallmark Insurance and UPDC Real Estate Investment Trust (UPDC) followed with a gain of 5.00 per cent each to close at 63 kobo and N1.05 respectively, per share.

FCMB Group went up by 4.92 per cent to close at N3.20, while Fidelity Bank appreciated by 4.39 per cent  to close at N3.33 per share.

On the other hand, Mutual Benefits Assurance led the losers’ chart by 9.38 per cent to close at 29 kobo per share.

Computer Warehouse Group followed with a decline of 9.09 per cent to close at 90 kobo, while Transnational Corporation of Nigeria (Transcorp) declined by 7.08 per cent to close at N1.05 per share.

Lasaco Assurance lost 6.80 per cent to close at 96 kobo, while  Sterling Bank  shed 4.52 per cent to close at N1.48 per share.

The total volume traded declined by 37.6 per cent to 229.121 million units, valued at N1.750 billion, and exchanged in 3,575 deals. Transactions in the shares of Sterling Bank topped the activity chart with 108.699 million shares valued at N159.823 million. Guaranty Trust Holdings Company (GTCO) followed with 34.252 million shares worth N680.452 million, while  Fidelity Bank traded 15.554 million shares valued at N50.529 million.

Mutual Benefits Assurance traded 9.182 million shares valued at N2.770 million, while Zenith Bank transacted 7.453 million shares worth N162.316 million.