As price increases in Eterna Plc and 18 stocks lifted the All-Share Index (ASI) by 0.04 percent, positive sentiments ahead of the third quarter (Q3) earnings and interim dividend declaration by listed firms continued to lift transactions on the equities sector of the Nigerian Exchange Limited (NGX).
To be more precise, the ASI increased by 27.11 percent, or 0.04 percent, at the close of trading yesterday, closing at 67,353.23 points. Similarly, N15 billion was added to the total market capitalization value, which ended at N37.004 trillion.
Price increases in major and medium-sized companies, such as those of Eterna, Zenith Bank, United Bank for Africa (UBA), Guaranty Trust Holding Company (GTCO), and Berger Paints, were the primary driver of the market’s strong performance.
Positive attitude among the banks continues to be the primary driver of the market, according to analysts from Vetiva Dealings & Brokerage. We anticipate another positive close in that industry tomorrow, barring any profit-taking actions, as the market anticipates the Q3 results.
Market mood was bullish as shown by the market breadth, with 19 equities rising and 18 stocks falling. Guinea Insurance closed at 24 kobo, recording the largest price gain of 9.09 percent. After that, Eterna closed at N14.80, up 6.86 percent, while Unity Bank closed at 96 kobo, up 5.49 percent.
Omatek Ventures had a gain of 4.55% to close at 46 kobo, while Jaiz Bank saw an appreciation of 5.26% to close at N1.60 kobo. Veritas Kapital closed at 25 kobo after gaining 4.17 percent.
Tantalizers closed at 30 kobo, up 3.45% from the previous day. Mansard closed at N4.22 kobo, up 2.93 percent. With 2.88 percent of the vote, Chams finished at N1.43 kobo. Additionally, Berger Paints climbed 1.69 percent to end at N12.
Conversely, Computer Warehouse Group (CWG) closed at 95 kobo, leading the losers’ chart by 10%. Africa Prudential lost 7.14 percent to settle at N6.50 kobo, while R.T. Briscoe Nigeria trailed with a decline of 8.77 percent to close at 52 kobo.
Neimeth International Pharmaceuticals down by 6.06 percent to close at N1.55 kobo, while FTN Cocoa Processors fell by 6.29 percent to close at N1.64. To close at N1.25 kobo, UPDC’s value decreased by 5.30 kobo. May&Baker closed at N4.85 kobo, down 3% from its opening price. CHI Plc ended the day at N1.19 kobo, down 2.46 percent. United Capital closed at N16.60 kobo, down 2.35 percent as well.
With 6,165 transactions, 397.56 million units worth N4.70 billion were exchanged, a 5.2% increase in the overall traded volume. Wema Bank share transactions, totaling 88.986 million shares valued at N418.147 million, topped the activity chart.
United Bank for Africa (UBA) traded 35.171 million shares valued at N659.134 million, while Access Holdings came in second with 35.607 million shares worth N598.485 million. While GTCO transacted 23.421 million shares for N828.481 million, Fidelity Bank traded 33.406 million shares valued at N279.513 million.
