NGX Rises As Tier-1 Banks Shares Rally

Stock Exchange Closes Trading Week With N30bn Gain

Trading on the Nigerian Exchange (NGX) began well, with the All-Share index rising 0.2% to 52,579.52 points. Today, the stock market gained N62 billion as investors bought Tier-1 banks shares. Nigerian Breweries, Nigerian Exchange Group, Ardova Plc, Stanbic IBTC Holdings, and Guaranty Trust Holding Company (GTCO) were among the major gainers.

Market mood was good, as judged by market breadth, with 29 equities gaining versus 27 losers. Multiverse Mining and Exploration had the largest price increase of 10%, closing at N3.41 per share.

Red Star Express followed with a 9.96% gain to conclude at N2.65, while CWG gained 9.85% to settle at N1.45, per share. McNichols increased by 9.23% to close at 71k, while International Breweries increased by 6.82% to conclude at N4.70 per share.

C & I Leasing, on the other side, led the losers’ chart by 9.8 percent, closing at N3.59 per share. Transnational Corporation (Transcorp) followed with a 7.73 percent drop to N1.79. Meanwhile, FTN Cocoa Processors fell 6.9% to settle at 27k per share.

Chams Holdings down 6.45 percent to end at 29k, while Custodian Investment fell 4.8% to settle at N5.95, per share. The total volume traded advanced by 6.0 per cent to 511.38 million units, valued at N7.14 billion, and exchanged in 5,883 deals.

Transactions in the shares of Access Holdings topped the activity chart with 167.62 million shares valued at N1.92 billion. FBN Holdings (FBNH) followed with 91.29 million shares worth N1.09 billion, while United Bank for Africa (UBA) traded 78.06 million shares valued at N623.44 million.

Transnational corporations (Transcorp) traded 29.557 million shares valued at N53.202 million, while AXA Mansard Insurance sold 18.151 million shares worth N45.687 million.

Sectoral performance was broadly positive. The Insurance index popped up by 0.8%, Banking inched up by 0.6%, Consumer Goods sector index gained 0.6%, and Oil & Gas advanced 0.4%. Meanwhile. the Industrial Goods index closed flat.

Overall, equities market capitalisation rose by N62 billion to close at N28.63 trillion as against N28.568 trillion posted on Friday.

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