New Telegraph

February 24, 2024

Equities close month positive with N328bn gain

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The equities market closed yesterday on a positive note, to end the last trading day of the month of September on the upswing as investors continue to take position on undervalued stocks and anticipation of half year results. The market performance indices, NGX ASI, appreciated by 1.59 per cent as market breath closed negative with 20 gainers against 14 losers.

Consequently, the All-Share Index grew by 628.88 basis points or 1.59 per cent from 39,502.29 index points the previous to 40.221.17 while the market capitalisation of equities appreciated by N328 billion to close at N20.955 trillion from N20.627 trillion. On the activity chart, hotel and lodging sub-sector dominated in volume terms with 763.91 million shares exchanged in four deals.

The sub sector was enhanced by the activities in the shares of Transcorp Hotel Plc. The premium sub-sector boosted by activities in shares of FBNH Plc and Zenith Bank Plc followed with 93.620 million units traded in 1,217 deals. In all, investors exchanged a total of 1.04 billion shares in 3,762 deals. Further analysis of the day’s trading showed that UPL Nigeria Plc led the gainers’ chart by 9.82 per cent to close at N1.23 per share while Pharma-Deko Plc followed with 9.81 per cent to close at N2.35 per share and May and Baker Plc with a gain of 9.17 per cent to close at N4.88 per share. On the flip side, Chams Plc led the losers’ chart by 8.70 per cent to close at 21 kobo per share. AXAMansard Assurance Plc followed with a loss of 4.12 per cent to close at N2.33 per share while Jaiz Bank Plc dropped by 3.23 per cent to close at 60 kobo per share.

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