Okomu Oil, Champions Breweries Lead As NGX’s ASI Hits 52,838 Points
The Nigerian equities market has again returned bullish after the bearish sentiment the market witnessed on Tuesday.
The bullish mood of the market saw the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX), rising by 1,033.04 index points or 2 per cent- the highest single-day gain by the index in over a decade. It closed at 52,838.45 points up from its previous closing at 51,805.41 points.
Also, the market capitalization of the Nigerian Bourse appreciated by N556.9 billion, representing a 2 per cent gain to settle at N28.485 trillion compared to N27.928 trillion recorded on Tuesday.
The rise of the NGX was boosted by gains recorded by large and medium scale firms. Amongst them are; CWG Plc, Okomu Oil Plc, Champions Breweries Plc, McNichols Plc and Industrial and Medical Cases Nigeria Plc
The market turnover increased by 25.9 per cent as a total of 417.386 million shares valued at N7.33 on 7,255 deals were traded compared to the previous trading session when investors bought and sold a total of 331.521 million units of shares worth N5.035 billion in 6,689 deals.
The big rally of the market ensured it remained positive with 27 laggard equities and 43 advanced stocks aa against 13 losers and 36 gainers recorded in the previous trading session.
The losers’ chart was led in percentage terms by BUA Foods Plc, losing 10 per cent to close at N56.70 kobo per share. Ikeja Hotel Plc and Eterna Plc lost 10 per cent and 9.92 per cent to close at N1. 17 kobo and N6.54 kobo per share respectively.
Similarly, Northern Nigeria Flour Mills Plc dipped 9.50 per cent to close at 9.05 per share, while RTBriscoe Plc declined 8.70 per cent to settle at N0. 63 kobo per share.
Conversely, CWG Plc was the biggest gainer on the bourse in percentage parameters, ss the firm rose 10 per cent to close at N0.99 kobo per share.
Also, Okomu Oil Plc appreciated by 10 per cent to close at N205.70 kobo per share, while Champions Breweries Plc climbed 9.93 per cent to close at N4. 43 kobo per share.
In the same vein, McNichols Plc and Industrial and Medical Cases Nigeria Plc jumped 9.90 per cent and 9.88 per cent to settle at N1. 11 kobo and N9. 45 kobo per share respectively.
Analysis of the NGX market activity chart reveals that Jaiz Bank Plc closed the market as the most active stock in volume parameters, as the lender traded a total of 40.43 million shares worth N34.91 million, while Unilever Nigeria Plc returned as the most valuable equity, transacting 24.63 million units of shares valued at N362.6 million.