NGX: Indices rebound by N21bn on GTCO price appreciation

Positive sentiments returned to the Nigerian equities market on Wednesday following investors’ interest in Guaranty Trust Holding Company (GTCO) and 18 others.

Specifically, the market capitalisation inched higher by N21 billion or 0.10 per cent to close at N22.102 trillion against N22.081 trillion recorded on Tuesday.

Also, the All-Share Index which opened at 42,317.52 rose by 39.84 points or 0.10 per cent to close at 42,337.36.

Consequently, the All-Share Index advanced by 0.1 per cent to 42,357.36 points.

Accordingly, month-to-date loss moderated to 2.1 per cent, while year-to-date gains increased to 5.2 per cent.

The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are: GTCO, Vitafoam, Nigerian Breweries, Dangote Sugar Refinery and Africa Prudential.

Market sentiment was positive with 19 gainers in relative to 13 losers.

A breakdown of the activity chart shows that Red Star Express dominated the gainers’ chart in percentage terms 7.94 per cent to close at N3.40 per share.

Meyer Plc followed with a gain 7.69 per cent to close at 42k, while Japaul Gold and Ventures rose by 5.41 per cent to close at 39k per share.

UPDC went up by 4.35 per cent to close at N1.20, while Africa Prudential appreciated by 4.10 per cent to close at N6.35 per share.

On the other hand, eTranzact International led the losers’ chart by 9.57 per cent to close at N1.89 per share.

Royal Exchange followed with a decline of 4.76 per cent to close at 60k, while Cutix lost 4.21 per cent to close at N2.50 per share.

International Breweries dropped 4.08 per cent to close at N4.70, while Unity Bank shed 2.13 per cent to close at 46k per share.

However, the total volume traded declined by 16.26 per cent to 226.18 million shares worth N2.63 billion achieved in 3,476 deals.

This was in contrast with 270.09 million shares valued at N2.29 billion posted in 4,426 deals on Tuesday.

Transactions in the shares of International Breweries topped the activity chart with 51.79 million shares valued at N253.34 million.

FBN Holdings followed with 32.53 million shares worth N392.19 million, while GTCO traded 17.99 million shares valued at N457.22 million.

Unilever Nigeria sold 10.01 million shares worth N132.08 million, while Mutual Benefits Assurance transacted 9.48 million shares worth N2.31 million.