GTCO Raises N994.24m As NGX Gains N127.49bn
The Nigerian Equities Market started trading bullish in the new week as seen in the momentum by the All-Share Index (ASI) and market capitalization – two matrics of the exchange on Monday.
The ASI rose 236.49 index points or 0.51 per cent to close at 46,867.95 points up from 46,631.46 points reported on Friday.
Also, the market capitalization of all listed equities on the Nigerian Exchange Limited (NGX) appreciated by N127.491 billion, representing 0.51 per cent to close at N25.266 trillion compared to N25.139 trillion recorded the previous trading session.
The rise of the Nigerian Bourse was buoyed by gains recorded by equities firms like NAHCO Plc, IAC Nigeria Plc, Meyer Plc, Royal Exchanges Plc and Learn Africa Plc.
The market turnover rose 45.75 per cent, as investors bought and sold 224.643 million units of shares N3.82 million in 5,946 deals compared to 154.12 million shares worth N1.75 billion im 4,515 deals transacted the previous trading session.
The market breadth closed positive with 32 stocks rising while thirteen declined as against 28 gainers and sixteen losers the previous day.
A cursory look at the NGX gainers’ chart shows that NAHCO Plc led the chart in percentage parameters, rising 10 per cent to close at N5.50 kobo per share.
UAC Nigeria Plc, followed with a 9.90 per cent to close at N11.10 kobo per share, while Meyer Plc jumped 9.73 per cent to close at N1.24 kobo per share.
Similarly, Royal Exchanges Plc and Learn Africa Plc appreciated 9.47 per cent and 9.25 per cent to close at N1. 04 kobo and N1. 89 kobo per share respectively.
On the other hand, Acc deny press Plc was the biggest loser in percentage terms, as the firm dipped 9.60 per cent to close at N1 .60 kobo per share.
In the same vein, Mutual Benefit Assurance Plc fell 7.69 per cent to close at N0.24 kobo per share, while Japaul Gold Plc lost 5.88 per cent to close at N0. 32 kobo per share.
Likewise, Multiverse Plc and prestige Assurance Plc shed 4 55 per cent abd 4 .44 per cent to close at N0. 21 kobo and N0.43 kobo per share respectively.
Analysis of the NGX’ market activity chart reveals that Guaranty Trust Holding company (GTCO) closed the market as both the most valuable avd active stock on the exchange, transacting a total of 43.24 million shares worth N994.24 million.
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