NGX ASI Posts Marginal Gain as Market Cap up N5.95b

The equities market of the Nigerian Exchange Limited (NGX), on Thursday recorded marginal gains in both the All Share-Index (ASI) and the market capitalisation.

Statistics obtained from the NGX yesterday revealed that activity on the domestic bourse was mixed, albeit with a bullish tilt as the benchmark index closed marginally higher by 0.02 per cent at 71,025.16 points, compared to at 71,014.34 points on Wednesday, 70,840.72 points closed on Tuesday and 70,608.02 points declared on first trading day of the week

Also, the market capitalization, slightly rose by N5.95billion to close at N39.06trillion, higher than N39.05trillion on Wednesday, stronger than N38.94trillion posted on Tuesday and N38.80trillion recorded on Monday.

Closing figures, showed that gains0.21 per cent in MTNN stock, Nigerian Brewery’s 5.26 per cent appreciation, and gain of 0.41 per cent by FLOURMILL offset the declines in ZENITHBANK , DANGSUGAR and United Bank for Africa.

Subsequently, the market remains on track for a weekly gain. The year-to-date (YTD) return rose to 38.58 per cent,

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 28.93 per cent.

A total of 483.85m shares valued at N4.38billon were exchanged in 6,545 deals.

REGALINS (-2.78%) led the volume chart with 104.34 million units while OANDO (+1.30%) led the value chart in deals worth N676.64million.

Market breadth closed negative at a 1.62-to-1 ratio with declining issues outnumbering advancing ones.

UPDC (-6.50%) led twenty (20) others on the laggard’s log while UNITYBNK (+9.18%) topped twelve (12) others on the leader’s table.