New Telegraph

NGX closes June positive with N139bn gain

ngx NGX

The equities market closed, yesterday, on a positive note to end the month of June on the upswing as investors continue to take position on undervalued stocks and in anticipation of half year results. The market performance indices, NGX ASI, appreciated by 0.07 per cent as market breath closed negative with 20 gainers against 17 losers. Consequently, the All- Share Index grew by 266.53 basis points or 0.07 per cent from 37,640.75 index points the previous to 37.907.28, while the market capitalisation of equities appreciated by N139 billion to close at N19.760 trillion from N19.621 trillion.

On the activity chart, the premium sub-sector dominated in volume terms with 59.78 million shares exchanged in 866 deals. The sub-sector was enhanced by the activities in the shares of Access Bank Plc and UBA Plc.The insurance sub-sector boosted by activities in shares of Mutual Benefits Assurance Plc and Sovereign Trust Insurance Plc followed with 46.08 million units traded in 519 deals.

In all, investors exchanged a total of 213,7 million shares in 3,522 deals. Further analysis of the day’s trading showed that Nestle Nigeria Plc led the gainers’ chart by 10 per cent to close at N1,540 per share while Ikeja Hotels Plc followed with 9.92 per cent to close at N1.33 per share and Oando Plc with a gain of 9.69 per cent to close at N3.29 per share. On the flip side, BOC Gases Plc led the losers’ chart by 10 per cent to close at N8.55 per share. Sovereign Trust Insurance Plc followed with a loss of 7.14 per cent to close at 26 kobo per share while PZ Cussons Plc dropped by 7.08 per cent to close at N5.25 per share.

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