Market sustains rising profile, gains 0.05 per cent

THE Nigerian Exchange Limited ( NGX) sustained gains yesterday, as the all share index ( ASI) appreciated further by 0.05 per cent.

At the close of transactions yesterday, market capitalisation of listed equities. increa sed by N28 billion or 0.05 per cent to N58.834 tril-lion from N58.806 trillion reported on Wednesday.

The NGX ASI also appreciated by 48.90 basis points to 104056.21 points from 104007.31 points recorded the previous day.

Analysts at Afrinvest said: "Investor sentiment as measured by market breadth worsened to - 0.04 ( from 0.13× in the prior session) as 19 stocks advanced while 22 declined. Tomorrow, we expect the market to close in the red on the back of weak investor sentiment."

A breakdown of market activities showed that Royal Express led the gainers’s chart with 9.72 per cent to close at 79 kobo while Unilever followed with a gain of 9.59 per cent to close at N16. Tanterlizer added 8.57 per cent to close at 38 kobo, UPDC gained 7.14 per cent to close at N1.50 kobo. Regal Insurance also added 5.41 per cent to close at 39 kobo.

On the contrary, International General Insurance recorded the highest loss, declining by 10 per cent to close at N1.35 kobo. SUNU Assurance trailed with a drop of 9.93 per cent to close at N9.93 kobo. International Breweries was down by 9.91 per cent to close at N4. Consolidated hallmark Plc dipped by 9.4 per cent to close at N1.35 kobo. Unity Bank also fell by 5.18 per cent to close at N1.83 kobo.

Volume of trades declined by 60.633 million, representing 18.55 per cent as investors traded 266.312 million shares valued at N7.408 billion in 5833 deals against 326.945 million shares cost N9.119 billion in 9570 deals.

Transactions in the shares of Fbnholdings led market activities with 28.561 million shares valued at N993.167 million.

Transcorps followed with account of 27.066 million shares cost N436.659 million. Accesscorp traded 25.273 million shares cost N602.124 million, GTCO Plc exchanged 13.856 million shares worth N609.879 million while Zenith Bank traded 132.29 million shares valued at N511.495 million.

The trading result further showed that Nestle Nigeria Plc led market in value term , executing stocks worth N1.002 billion , followed by Fbnholdings with N993.167 million while Transpower traded stocks valued at N978.071 million.