Despite price losses outweighing gains, the Nigerian Exchange Limited (NGX) equities sector finished on a positive note on Wednesday, with advances in 19 stocks lifting the All-Share Index (ASI) by 0.09 percent. ayokinews.com reports
The market capitalization of listed shares climbed by 0.09 percent to N25.385 trillion on Wednesday, up from N25.361 trillion on Tuesday. Similarly, the ASI rose 44.43 basis points to 47109.25 points on Wednesday, up from 47064.82 on Tuesday.
“Today’s (yesterday) session had stocks yielding to the sell pressure, hence, the negative close across board. We anticipate a mixed session tomorrow, as investors begin to take advantage of the price dip in some of these counters,” Vetiva Dealing and Brokerage analysts said.
In 4965 transactions, investors traded 318.269 million shares worth N8.27 billion, compared to 274.206 million shares worth N3.817 billion in 5331 transactions. 19 stocks had their prices rise, while 29 saw their prices fall.
Learn Africa was the day’s best-performing stock, rising 9.94% to end at N1.99 kobo. Scoa Plc gained 9.55 percent to settle at N1.95 kobo after that. RTBriscoe closed at 50 kobo, up 8.70% from the previous day. Veritas Kapital closed at 25 kobo, up 8.70 percent. Japaul Gold and Ventures rose 8.57 percent to 38 kobo at the closing.
UACN rose 6.52 percent to close at N9.80 kobo, while Royal Exchange gained 8.43 percent to close at 90 kobo. NEM closed at N4.09 kobo, up 5.14 percent.
Multiverse closed at 22 kobo, up 4.76 percent. Jaiz Bank closed at 70 kobo, up 4.48 percent. Stanbic IBTC rose 2.21 percent to N34.65 kobo at the closing. Unity Bank closed at 51 kobo, up 2.00 percent.
UPDC, on the other hand, had the worst day, losing 6.36 percent to settle at N1.03 kobo.
Regal Insurance closed at 37 kobo, down 5.13 percent. C&I Leasing closed at N3.60 kobo, down 4.7 percent. Prestige Insurance finished at 43 kobo, down 4.44 percent.
Chams Plc finished at 22 kobo, down 4.35 percent. To close at N1.93 kobo, livestock dropped 3.50 percent. ABC Transport closed at 32 kobo, down 3.03 percent. To close at 35 kobo, FTN Cocoa lost 2.78 percent.
Mansard finished at five kobo, down 2.08 percent. Honeywell flourmills closed at N3.33 kobo, down 2.06%.
Access Bank was also the most active stock on the day, with 47.884 million shares worth N496.246 million changing hands in 221 transactions.
Also in line was MTN Nigeria Plc with 21.697 million shares worth N4.339 billion in 223 transactions.
In 276 transactions Zenith Bank exchanged 17.293 million shares for N464.307 million.
In 180 transactions, United Bank for Africa sold 16.852 million shares for N143.132 million, while Nigerian Breweries exchanged 16.836 million shares worth N800.796 million.
Source (Credit): guardian.ng