Nigerian Equities Market Benchmark Index Crosses Historical 72,000bpts

Kayode Tokede

As trading activities remained upbeat at the close of trades yesterday, the Nigerian Exchange Limited All-Share index (NGX ASI), crossed the historical 72,000 basis points.

The NGX ASI gained 392.53 basis points or 0.55 per cent to close at 72,299.79 basis points. Also, market capitalisation rose by N215 billion to close at N39.564 trillion.

Notable buy pressure in key stocks like Transcorp Hotels, Access Holdings, FBN Holdings (FBNH), Zenith Bank and United Bank for Africa (UBA) drove the market’s strong performance.

As measured by market breadth, market sentiment was positive as 34 stocks gained relative to 16 losers. SCOA Nigeria emerged the highest price gainer of 9.88 per cent to close at N1.78, per share. Infinity Trust Mortgage Bank followed with a gain of 9.86 per cent to close at N2.34, while Access Holdings rose by 8.09 per cent to close at N22.05, per share.

Cornerstone Insurance increased rose by 7.41 per cent to close at N1.45, while Transcorp Hotels appreciated by 6.83 per cent to close at N46.90, per share. On the other side, University Press led others on the losers’ chart with 9.82 per cent to close at N2.48, per share. SUNU Assurance followed with a decline of 9.38 per cent to close at N1.16, while Eterna shed 8.03 per cent to close at N11.45, per share.

Flour Mills of Nigeria down by 4.57 per cent to close at N30.30, while Chams Holding Company depreciated by 4.04 per cent to close at N1.90, per share.

The total volume traded advanced by 35.6 per cent to 433.18 million units, valued at N8.08 billion, and exchanged in 6,650 deals. Transactions in the shares of Access Holdings led the activity with 60.182 million shares worth N1.305 billion. Guaranty Trust Holding Company (GTCO) followed with account of 49.432 million shares valued at N1.961 billion, while Zenith Bank traded 44.782 million shares valued at N1.614 billion.

Sterling Financial Holdings Company traded 34.454 million shares worth N139.680 million, while United Bank for Africa (UBA) traded 29.309 million shares worth N696.040 million.