Union Bank, Okomu Oil, Honeywell Push NGX N150bn Gain

Okomu Oil Plc, Union Bank of Nigeria Plc, Honeywell Flour Plc, ABC Transport and Cutix Plc are the biggest winners on the Nigerian Exchange Limited (NGX) that sustained its appreciation on Wednesday.

The All-Share Index (ASI) and Market Capitalization leapt by 0.74 per cent after both indexes also recorded a 0.50 per cent gain the previous trading session.

During trading on Wednesday, the ASI rose by 289.25 index point to close at 39,170.95 basis point up from 38,881.7 basis point, while the market capitalisation jumped by N150 billion to stand at N20. 416 trillion up from N20.266 trillion.

The market turnover fell by 16.92 per cent as investors bought and sold 181.526 million shares valued at N3.959 billion in 3,217 deals, as against 218.514 million shares worth N1.590 billion in 3,630 deals that exchanged hands amongst investors on Tuesday.

Also, the market breadth returned positive with 25 gainers and seven losers compared to 17 laggard equities and 15 advanced stocks the previous day.

The gainers’ chart was led in percentage parameters by Cutix Plc, gaining 10 per cent to close at N2. 53 Kobo per share.

Okomu Oil Plc jumped 9.75 percent to close at N116. 50 Kobo per share, while Union Bank Plc rose by 9.43 percent to close at N5. 80 Kobo per share.

In the same vein, Honeywell Flour appreciated 8.62 percent to close at N1. 26 Kobo per share, while ABC Transport Plc soared by 8.11 percent to close at N0. 40 Kobo per share.

On the flip side, the losers’ table was dominated in percentage terms by Sovereign Trust Insurance, when it fell by 3.57 percent to close at N0. 27 Kobo per share.

Jaiz Bank and First City Monument Bank (FCMB) lost 3.39 and 1.39 percent to close at N0. 57 Kobo and N3. 10 Kobo per share respectively.

Also, FBN Holdings Plc depreciated by 1 .37 percent to close at N7. 20 Kobo per share, while Sterling Bank Plc declined by 1.23 percent to close at N1. 60 Kobo per share.

Zenith Bank Plc was both the most active and valuable equity on the NGX Wednesday, trading at 20.759 million shares worth N476.127 million.