Buying interests on Seplat, others cause N57bn gain on NGX


By Olawunmi Ashafa
Lagos, July 18, 2022 The equities market kicked off the trading week with positive sentiments, following investors’ buying interests, making investors to gain N57 billion on Monday.

Also, the market capitalisation stood at N28.214 trillion compared to N28.157 trillion posted at the last trading session.

The uptrend was impacted by gains recorded in large capitalised stocks, amongst which are; Seplat, Guaranty Trust Holding Company (GTCO), UCAP, among others.

Similarly, the All-Share Index rose by 0.2 per cent to 52,319.94 points from -52,215.12 points recorded on Friday.

Consequently, the year-to-date gain of the NGX AS rose to 22.48 per cent.

Performance across sectors was mixed, as the Consumer Goods index dropped by 0.6 per cent and Insurance index fell by 0.5 per cent.

The Oil and Gas index increased by four per cent, while the Banking and Industrial Goods indices closed flat.

The market breadth was negative as 14 stocks advanced and 22 stocks declined.

Seplat dominated the gainers’ table in percentage terms, gaining of 10 per cent, to close at N1.430 per share.

Conerstone Insurance followed with 8.77 per cent to close at 62k, while RTBriscoe rose by 8.11 per cent to close at 42k per share.

Wema Bank garnered 6.95 per cent to close at N4, while Fidson Pharmaceuticals appreciated by 5.21per cent to close at N9.90 per share.
On the other hand, CWG led the losers’ chart in percentage terms, dropping 10 per cent to close at 81k per share.

Academy Press followed with a decline of 9.50 per cent to close at N2, while Honey Flour lost 9.09 per cent to close at N2.50 per share.

NAHCO lost 8.81 per cent to close at N6 per share, while Regent Alliance Insurance dropped by 7.41 per cent to close at 25k.

Conversely, the total volume traded declined by 38.8 per cent to 116.28 million units, valued at M3.46 billion, and exchanged in 4,525 deals.

This is against 190.10 million shares valued at N4.13 billion which were exchanged in 3,893 deals on Friday.

Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 12.93 million shares worth N96.88 million.

Zenith Bank followed with 10.68 million shares valued at N235.68 million, while First Bank of Nigeria Holdings (FBNH) traded 8.71 million shares worth N88.72 million.

Accesscorp sold 6.71 million shares valued at N62.72 million, while GTCO transacted 5.89 million shares worth N125.39 million.

Naija247news Media Nigeria
Naija247news Media Nigeria
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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