Renewed Interest in UBA, Zenith Bank, 28 Others Lift Stock Market

Kayode Tokede

The stock market segment of the Nigerian Exchange Limited (NGX) yesterday closed on a positive note with a gain of 0.16 per cent as investors renewed interest in United Bank for Africa Plc (3.5 per cent gain), Zenith bank Plc (2.4 per cent increase) and 28 other listed stocks on the bourse.   

The NGX All-Share Index rose by 158.44 basis points or 0.16 per cent, to close at 97,418.83 basis points with the Month-to-Date and Year-to-Date performance closed at -0.2per cent and +30.4per cent, respectively.

Similarly, the overall market capitalisation value gained N96 billion to close at N59.031 trillion.

On sectoral performance, the NGX Banking Index added 1.4per cent and NGX Consumer Goods (appreciated by 0.4per cent, while the NGX Insurance Index depreciated by 0.6per cent. The NGX Industrial Goods and NGX Oil & Gas indices closed flat.

As measured by market breadth, market sentiment closed positive, as 30 stocks gained relative to 18 losers. International Energy Insurance recorded the highest price gain of 10 per cent to close at N1.32, per share. John Holt followed with a gain of 9.98 per cent to close at N6.39, while Eunisell Interlinked rose by 9.88 per cent to close at N10.90, per share.

Thomas Wyatt Nigeria appreciated by 9.88 per cent to close at N1.92, while University Press gained 9.09 per cent to close at N3.60, per share. On the other hand, Regency Alliance Insurance led the losers’ chart by 10 per cent to close at 45 kobo per share, while DAAR Communication followed with a decline of 7.46 per cent to close at 62 kobo, per share.

Sovereign Trust Insurance declined 6.35 per cent to close at 59 kobo, while Universal Insurance and NEM Insurance shed 5.88 per cent each to close at 32 kobo and N8.00 respectively, per share.

However, the total volume traded declined by 27.53 per cent to 247.015 million units, valued at N7.511 billion, and exchanged in 8,305 deals. Transactions in the shares of Access Holdings topped the activity chart with 40 million shares valued at N979.586 million. UBA followed with 23.739 million shares worth N761.208 million, while Fidelity Bank traded 21.287 million shares valued at N312.630 million.

United Capital traded 16.294 million shares valued at N264.429 million, while Guaranty Trust Holding Company (GTCO) transacted 14.729 million shares worth N794.446 million.