Buying Interest in BUA Cement, Others Lift Stock Market by N166bn

Kayode Tokede 

Recovering from the previous session’s loss, the stock market segment of the Nigerian Exchange Limited (NGX) yesterday gained N166billion in overall capitalization as investors renewed interest in BUA Cement Plc, FBN Holdings Plc, Access Holdings Plc, among 37 other stocks.

As the stock price of BUA Cement rose by 4..70per cent, the NGX All-Share Index (ASI) gained 303.34 basis points or 0.43 per cent to close at 71,250.17 basis points from 70,946.83 basis points.

Also, market capitalisation rose by N166 billion to close at N38.989 trillion from N38.823trillion it closed for trading the previous day.

Consequently, the stock market Month-to-Date and Year-to-Date returns closed at -0.2 per cent and +39per cent, respectively.

On sectors performance, the NGX Industrial Goods added 1.9 per cent, NGX Banking rose by 1.5per cent, and NGX Consumer Goods appreciated by 0.1per cent, while the NGX Oil & Gas index closed flat at ,047.07 basis points. The NGX Insurance depreciated by 0.2per cent, the sole loser yesterday.

As measured by market breadth, market sentiment was positive, as 40 stocks gained relative to 16 losers. Secure Electronic Technology emerged the highest price gainer of 10 per cent to close at 77 kobo, per share. 

Multiverse Mining and Exploration followed with a gain of 9.95 per cent to close at N7.07, while SUNU Assurance advanced by 9.92 per cent to close at N1.33, per share.

FBNH rose by 9.86 per cent to close at N26.75, while Thomas Wyatt Nigeria appreciated by 9.82 per cent to close at N3.02, per share. On the other side, Abbey Morgage Bank led others on the losers’ chart with 9.88 per cent to close at N1.55, per share. FTN Cocoa Processors followed with a decline of 9.09 per cent to close at N1.50, while DAAR Communications shed 8.82 per cent to close at 31 kobo, per share.

Wapic Insurance lost 7.14 per cent to close at 65 kobo, while Veritas Kapital Assurance depreciated by 5.41 per cent to close at 35 kobo, per share.

The total volume traded rose by 20.93 per cent to 433.568 million units, valued at N11.114 billion, and exchanged in 7,016 deals. Transactions in the shares of UACN led the activity with 61.711 million shares worth N947.412 million. United Bank for Africa (UBA) followed with account of 58.297 million shares valued at N1.241 billion, while Guaranty Trust Holding Company (GTCO) traded 22.997 million shares valued at N908.187 million.

Nigeria Infrastructure Debt Fund (NIDF) traded 20.518 million shares worth N2.223 billion, while Access Holdings traded 19.985 million shares worth N377.897 million.