Stock market gains marginally by 0.02%

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Activities in the equities market of the Nigerian Exchnge Ltd. (NGX) on Wednesday recorded a slight positive performance as the All-Share Index (ASI) rose by 11.35 points or 0.02 per cent to close at 54,507.66 from 54, 496.31 recorded on Tuesday.

Accordingly, the year-to-date (YTD) return rose to 6.35 per cent.

Also, the market capitalisation gained N6 billion or 0.02 per cent to close at N29.688 trillion as against N29.682 posted at the previous trading.

The upturn was also impacted by gain recorded in stock of Tier-One banks such as FBN Holdings, Zenith Bank and Guranty Trust Holding Company (GTCO)

Also, the market breadth measured by market sentiment was flat with 14 gainers relative to 14 losers.

Tripple Gee & Company led the gainers’ chart in percentage terms by 10 per cent to close at N1.65, per share.

Linkage Assurance followed with 7.14 per cent to close at 45k, while Consolidated Hallmark Insurance grew by 4.62 per cent to close at 68k, per share.

Ikeja Hotel rose by four per cent to close at 37k, while FTN Cocoa Processors appreciated by 3.57 per cent to close at 29k, per share.

On the other hand, Sovereign Trust Insurance and Japaul Gold & Ventures led the losers’ chart in percentage terms by 6.967 per cent each to close at 28k, per share, respectively.

National Salt Company followed with 3.57 per cent to close at N10.80, while Chams dropped by 3.45 to close at 28k, per share.

First City Monument Bank shed 3.26 per cent to close at N4.45, per share.

The trade turnover decreased by 23.50 per cent to 134.46 million units, valued at N4.36 billion and exchanged in 2,905 deals.