NGX: Large-cap gains reverse bearish trend, investors earn N78bn

The Nigerian Equities Market sways bullish as a positive outing by BUA Cement, Nigerian Breweries and Guaranty Trust Holding Company push the equities market higher on Thursday.

Thus the All Share Index (ASI) of the Nigerian Exchange Limited (NGX) gained 0.40 per cent to stand at 37,954.35 basis points, bringing the year-to-date performance to stand at -5.75 per cent.

Owing to the positive sentiments, the Market Capitalisation closed at N19.781 trillion as investors earned N78 billion in the session.

Consequently, the bulls swayed the market breadth in their favour as 20 counters in the gainers’ chart were pitted against 14 counters in the losers’ chart.

The top gainers’ chart was populated in the session by Portland Paint, Mutual Benefits, Learn Africa, Eterna and Oando as the best-performing stocks. Conversely, Juli Pharmaceutical, AIICO Insurance, Chams, Champion Breweries and Honeywell Flour made the top losers’ chart.

Most sectoral indices closed in tandem with the ASI save for the Insurance sector that lost 0.30 per cent, NSEASEM lost 1.77 per cent.

Market activity as measured by the volume of trades slipped further in the session, as 167 million units of shares were traded, representing a 19.65 per cent decline from a volume of 208 million units traded in the previous session.

Conversely, market turnover inched higher in the session, as GTCO traded in its first trading session. Hence, the value of traded stocks stood at N1.830 billion, a 14.17 per cent increase from the value of N1.603 billion recorded in the previous trading session.

Zenith Bank continued to top the chart as the most traded stock by volume, as it is flanked in the session by Sovereign Insurance, United Bank for Africa, Mutual Benefits and FBN Holdings to complete the list of the five most traded stocks in terms of volume of trades.

With regards to the value of traded stocks, Zenith Bank, Stanbic IBTC Holdings, GTCO, Presco and WAPCO made up the top five performers.

Meanwhile, in a move poised to further deepen the market, Guaranty Trust Bank Plc (GUARANTY) was delisted from the daily official price list of the Exchange, as Guaranty Trust Holding Company Plc gets listed with the ticker code GTCO.

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CLAIM 1: A Twitter user claims UNICEF said any efforts to block children from accessing pornography might infringe their human rights.NGX: Large-cap gains reverse bearish trend, investors earn N78bn

NGX: Large-cap gains reverse bearish trend, investors earn N78bn