Local stock market rebounds marginally as investors earn N6bn

Trading activities at the Nigerian Exchange Limited (NGX) edged to a positive close on Tuesday as the All-Share Index (ASI) inched up marginally by 0.02 per cent to peg at 45,928.27 basis points

This positive outing pushed both the month-to-date and year-to-date outings of the ASI to stand at 7.55 per cent.
Investors therefore gained six billion naira in the session as the market capitalisation followed suit the direction of the ASI to stand at N24.755 trillion, a 0.02 per cent increase from the N24.749 trillion it stood at the end of the previous trading session.

As measured by market breadth, market sentiment was positive as 19 tickers gained relative to 14 losers.

On the performance chart, Courtville led the gainers list having gained 10 per cent to it’s share value, flanked by Ecobank Transnational Incorporated, Academy Press, Champion Breweries and Regal Insurance to complete the list of the top five gainers. From the rear of the chart, C&I Leasing shed the most weight to lead the laggards’ chart, closely followed by Prestige Insurance, Cornerstone Insurance, Mutual Benefits and UPDC.

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Most sectorial indices closed in the same direction with the ASI save for NGX Consumer Goods, NGX Insurance, and NGX Industry that shed 0.19 per cent, 0.88 per cent, and 0.03 per cent, while NGX Growth and NGX ASEM closed flat.

However, market activity as measured by both volume and value of trades closed in opposite direction at the end of the trading session as daily traded volume stood at 248 million units, representing a 11.10 per cent decline from a volume of 279 million units traded in the previous session.

Value of traded stocks however inched up by 23.90 per cent in the session to stand at N3.577 billion as against a value of N2.887 billion recorded in the previous trading session.

Guaranty Trust Holding Company dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Courtville, Transcorp, Zenith Bank and Chams to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, Seplat took the lead of the top five performers as well. It is flanked by GTCO, Zenith Bank, MTN Nigeria and Nigerian Breweries.

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Local stock market rebounds marginally as investors earn N6bn

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Local stock market rebounds marginally as investors earn N6bn

Kehinde Akinseinde-Jayeoba