Kayode Tokede
Bullish sentiments continued within the inventory market part of the Nigerian Trade Restricted (NGX) yesterday, gaining N409.66 billion on buyers’ demand for Seplat Power Plc and 34 others.
As Seplat Power added 10 per cent or N561.00 per share to shut at N6,171.00 per share, the market capitalisation that opened for buying and selling at N102.3 trillion, gained N409.66 billion or 0.4 per cent to shut at N102.685 trillion.
In three days, THISDAY learnt that market capitalisation has superior by N2.75triillion from N99.938 trillion to shut yesterday at N102.685 trillion.
Additionally, the NGX All-Share Index closed buying and selling at 160,591.76 foundation factors, about 640.68 foundation factors or 0.4 per cent improve from 159,951.08 foundation factors the market opened for buying and selling actions.
Sectoral efficiency was broadly constructive, because the NGX Oil & Gasoline Index (+3.9per cent), NGX Insurance coverage Index (+1.1per cent), NGX Industrial Items Index (+0.5per cent), and NGX Shopper Items Index (+0.5per cent) indices superior, whereas the Banking (-0.1per cent) index declined.
The market sentiment was bearish with 35 advancing shares outweighed by 38 declining counters. Okomu Oil, Union Dicon Salt and Seplat Power recorded the very best value acquire of 10 per cent every to shut at N1,204.50, N8.80 and N6,171.00 respectively, per share. NCR Nigeria adopted with a acquire of 9.97 per cent to shut at N79.95, whereas McNichols rose by 9.93 per cent to shut at N4.76, per share.
However, Cadbury Nigeria led the losers’ chart by 10 per cent to shut at N63.00, per share. Austin Laz & Firm adopted with a decline of 9.93 per cent to shut at N5.08, whereas Aluminium Extrusion Industries declined by 9.91 per cent to shut at N19.55, per share.
Haldane McCall depreciated by 9.85 per cent to shut at N4.21, whereas FTN Cocoa Processors declined by 9.62 per cent to shut at N6.01, per share.
In the meantime, the overall quantity traded rose by 90.84 per cent to 1.441 billion models, valued at N20.695 billion, and exchanged in 49,286 offers. Transactions within the shares of Common Insurance coverage topped the exercise chart with 804.114 million shares valued at N410.401 million. Linkage Assurance adopted with 54.880 million shares value N98.845 million, whereas Entry Holdings traded 29.739 million shares valued at N691.536 million.
Ellah Lakes traded 26.507 million shares valued at N446.385 million, whereas Mutual Advantages Assurance bought 24.476 million shares value N100.198 million.
On market outlook, Imperial Asset Managers Restricted mentioned, “near-term sentiment is anticipated to stay cautiously constructive, supported by robust early-year momentum, enhancing market capitalization, and sustained curiosity in choose mid- and large-cap shares.
“Nonetheless, the damaging shut within the Banking index and the slight deterioration in market breadth counsel rising selectivity, as buyers rotate out of current outperformers and lock in income.
“Going ahead, market route is more likely to be pushed by stock-specific fundamentals, earnings expectations, and sector rotation, with buying and selling exercise remaining blended as members stability optimism with profit-taking pressures.”
