FBN, Union Bank, Others Push Equities Market To N130.2bn Gain
The Nigerian Exchange Limited (NGX) has sustained its recent growth trajectory with stocks closing bullish on Thursday.
The bullish trend of Equities saw the All-Share Index (ASI) rose by 241.52 index pints or 0.47 per cent to settle at 51,618.73 basis points as against 51,377.21 basis points reported the previous trading session.
Remarkably, the market capitalization of all listed equities on the exchange appreciated by N130.2 billion, representing 0.47 per cent growth to close at N27.83 trillion up from N27.69 trillion.
The rise of the domestic bourse was boosted by the appreciation in the value of large and medium scale companies. Amongst which are; First Bank Holdings Plc, FTN Cocoa Plc, Consolidated Hallmark Insurance Plc, Livestock Feeds Plc and Union Bank of Nigeria Plc.
A total of 223,24 million units of shares worth N2.86 billion in 4,028 deals were transacted on the floor of the Nigerian stock market.
Despite the appreciation of the bourse, the market breadth closed negative with 22 decliners and 18 gainers.
The gainers’ table was led in percentage terms by FBN Holdings, as the lender jumped 9.78 per cent to settle at N10.10 kobo per share.
FTN Cocoa Plc and Consolidated Hallmark Insurance Plc climbed 9.38 per cent and 8.06 per cent to close at N0. 35 kobo and N0. 67 kobo per share respectively.
Also, Livestock Feeds Plc gained 6.94 per cent to settle at N1. 54 kobo per share,, while Union Bank of Nigeria Plc soared by 6.19 per cent to close at N6 per share.
Conversely, the losers’ table was dominated in percentage parameters by Academy Press Plc, losing 10 per cent to close at N1. 17 kobo per share.
In the same vein, Ellah Lakes, Plc dipped 10 per cent to settle at N3. 96 kono per share, while Presco Plc fell 9.84 per cent to settle at N165 per share.
Similarly, Etranzact Plc and Meyer Plc declined by 9.84 per cent and 9.68 per cent to close at N2.20 kobo and N2.52 kobo per share respectively.
Analysis of the NGX market activity chart shows that Mutual Benefit Assurance Plc was the most active stock in volume parameters, as the underwriting firm traded a total of 40.13 million shares worth N10.03 million, while Access Corporation Plc closed trading as the most valuable company, transacting 24.09 million units of shares valued at N229.02 million.