NGX gains N302 billion as IMG, Champion lead gainers to sustain bullish rally

The equities market closed yesterday on a positive note as Industrial and Medical Gas (IMG) Nigeria Plc and Champion Breweries Plc led 25 other stocks to close the day’s trading on the upswing.

The market performance indices, NGX ASI, appreciated by 1.06% with the market breathe closing positive with 27 gainers against 11 losers.

The upswing, according to market watchers was driven by bargain hunting activities on the back of undervalued stocks following renewed appetite in anticipation of share appreciation ahead of second-quarter results.

Consequently, the All-Share Index grew by 559.91 basis points or 1.06 per cent from 52,591.41 index points the previous day to hit 53,151.32 while the market capitalisation of equities appreciated by N302 billion to close at N28.654 trillion from N28,352 trillion.

On the activity chart, the banking sub-sector dominated in volume terms with 66.32 million shares exchanged in 822 deals. The sub-sector was enhanced by the activities in the shares of GTCO Plc and ETI Plc.

Premium sub-sector boosted by the activities in the shares of Access Holding Plc and FBN Holdings Plc followed with 61.596 million units traded in 1,763 deals.

In all, investors exchanged a total of 266.18 million shares exchanged in 5.501 deals.

NGX Top ASI gainers 

  • IMG up +10% to close at N11.00
  • Champion up +9.94% to close at N3.76
  • Linkage Assurance up +9.09% to close at 60 kobo
  • Livestock Feeds up +7.35% to close at N1.46
  • Wapco up +6.23% to close at N28.15

NGX Top ASI losers 

  • NPFMFB down – 9.90% to close at N1.82
  • UACN down – 9.69% to close at N1.32
  • Academy Press down – 9.59% to close at N1.32
  • Learn Africa down – 8.89% to close at N2.05
  • Royal Exchange down – 5.26% to close at N1.08

NGX ASI Top Traded by Volume 

  • Access Holdings – 25,315
  • GTCO – 20,652
  • Jaiz Bank – 16,389

NGX ASI Top Traded by Value 

  • MTNN – N1.880,8858,205.00
  • Seplat – N736,124,757.60
  • GTCO – N481,108,053.95

Market sentiment sustained positive outlook as the market differential remained in favour of the gainers as 28 gainers were recorded against 11 losers.

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