NGX gains N2bn amid profit taking

The market capitalisation of the Nigerian Exchange Ltd., (NGX) on Wednesday increased by N2 billion or 0.01 per cent to N26.185 trillion from N26.183 trillion recorded on Tuesday, amid profit taking in consumer goods and industrial sector.

Also, the All-Share Index (ASI) increased by 0.01 per cent to 48,571.75 points from 48,568.57 points on Tuesday.

Performance across sub-indices were relatively negative, as the NGX Banking Index, Insurance Index and Oil/Gas fell by 1.46 per cent, 0.85 per cent and 0.72 per cent respectively.

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However, the NGX Consumer Goods Index and Industrial Index rose by 0.68 per cent and 0.37 per cent.

The market breadth closed negative with 18 gainers against 23 losers.

Academy recorded the highest price in percentage terms, with a gain of 9.92 per cent to close at N1.33 per share.

Wema Bank followed with 9.88 per cent to close at N3.67 per share while Cadbury appreciated by 9.68 per cent to close at N8.50per share.

UPDC rose by 9.09 per cent to close at 96k per share, while PRESCO appreciated by 8.98 per cent to close at N143.85 per share.

Conversely, Ikeja Hotel led the losers’ chart with a loss of 9.68 per cent to close at N1.40 per share.

Livestock followed with 9.50 per cent to close at N1.62 per share, while CHI Plc depreciated by 9.38 per cent to close at 58k per share.

Union Bank of Nigeria (UBN) dropped 6.25 per cent to close at N6 per share, while Cornerstone Insurance lost 6.06 per cent to close at 62k per share.

Also, the total volume of stock in 5,033 deals traded decreased to 246.70 million units from 464.73 million recorded on Tuesday.

Also, the value of stocks traded decreased to N2.32 billion from N7.01 billion in the prior trading session.

Transactions in the shares of Multiverse topped the activity chart with 36.24 million shares valued at N7.28 million.

Transcorp followed with 26.06 million shares worth N29.94 million, while WAPCO traded 24.53 million shares valued at N392.65 million.

Fidelity Bank sold 12.56 million shares worth N46.67 million, while Guaranty Trust Holding Company (GTCO) accounted for 12.29 million shares worth N294.29 million. (NAN)