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Home Economy/Technology

Bullish sentiment persists, investors gain N329bn in NGX

Stock

The Matters Press by The Matters Press
February 16, 2024
Reading Time: 2 mins read
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Trading in Nigerian stock market dips further N83bn

Lagos, Feb. 16, 2024: Bullish sentiment persisted on Thursday at the Nigerian Exchange Ltd. (NGX) equity market, as the market indices rose by 0.58 per cent.

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Specifically, investors gained N329 billion or 0.58 per cent, as the market capitalisation closed at N56.961 trillion, as against N56.632 trillion recorded on Wednesday.

The All-Share Index also appreciated by 0.58 per cent or 601.72 point to settle at 104,100, compared to 103,498.28 posted in the previous session.

As a result, the Year-To-Date (YTD) return rose to 39.22 per cent.
Continuous buy interests in the shares of BUA Cement, BUAFoods and Geregu kept the market in the positive terrain.

A total of 284.49 million shares valued at N6.91 billion were exchanged in 8,168 deals, as against 426.86 million shares valued at N12.11 billion exchanged in 8,654 deals.

However, analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 42.89 per cent.

Guaranty Trust Holding Company(GTCO) led the activity table in volume and value with the trade of 56.61 million shares worth N2.22 billion.

Transcorp followed with 33.17 million shares valued at N418.31 million, while United Bank of Africa(UBA) traded 18.38 million shares worth N442.96 million.

Also, Mutual Benefits Assurance sold 16.76 shares valued at N11.48 million and AXA Mansard traded 12.51 million shares worth N75.57 million.

On the gainers’ table, University Press Ltd.(UPL) led in percentage terms of 9.96 per cent to close at N2.87, followed by Juli Plc by 9.84 per cent to close at N1.34 per share.

Mutual Benefits gained 9.38 per cent to close at 70k, Daar Communications rose by 8.82 per cent to close at 74k, while Honeywell Flour garnered 7.50 per cent to close at N4.30 per share.

Conversely, Unilever Nigeria Plc led the losers’ table by 9.80 per cent to close at N16.10, Julius Berger lost 9.64 per cent to close at N50.60, while Morison Industries Plc shed 9.60 per cent to close at N2.23 per share.

May & Baker Nigeria Plc depreciated by 6.52 per cent to close at N6.45 and National Salt Company of Nigeria (NASCON) dropped 5.37 per cent to close at N59.04 per share.

Market breadth closed negative with 26 declining stocks outnumbering 23 advancing ones.

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