Positioning In Geregu, Airtel Drive Stock Market Index Higher

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Geregu Airtel Drive Stock MarketThe Nigerian stock market index advanced following renewed interest in GEREGU (+9.0%) and AIRTELAFRI (+0.9%). Thus, the All-Share Index advanced by 0.3% to close at 55,670.24 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at -0.2% and +8.6%, respectively.

Investors’ net worth on the Nigerian Exchange Ltd., (NGX) appreciated further by N146 billion on Thursday due to gains posted by some medium and large-capitalized stocks.

Specifically, the market capitalization gained N88 billion or 0.29 percent to close at N30.326 trillion, from N30.238 trillion reported on Wednesday. Also, the NGX All-Share Index dipped 161.63 points, or 0.29 percent, to close at 55,670.24 from 55, 508.61 posted on Wednesday.

Market breadth was negative as 17 stocks were on the gainer’s table while 26 were on the laggards. Sunu Assurances led the gainers’ table in percentage terms, gaining 10 percent to close at 44k per share.

Dangote Sugar followed with 9.94 percent to close at N19.35, while McNichols gained 9.72 percent to close at 79k per share. Geregu Power gained by 9.02 percent to close at N325, while National Salt Company added 8.93 percent to close at N8.93 per share.

On the other hand, Sovereign Trust Insurance topped the losers’ chart in percentage terms, shedding 10 percent to close at 27k per share.

Academy Press followed with a loss of 9.38 percent to close at N1.16, while Transcorp shed 7.97 percent to close at N1.65 per share.

Chams dipped 7.14 percent to close at 26k, while NGX Group lost 6.55 percent to close at N27.10 per share. Transcorp was the most active stock during the day, exchanging 29.75 million shares, valued at N39.15 million.

Access Bank followed with an exchange of 18.65 million shares worth N172.32 million, while UAC of Nigeria traded 14.02 million shares valued at N118.35 million.

Guaranty Trust Holding Company (GTCo) sold 13.06 million shares worth N348.63 million, while Zenith Bank exchanged 9.28 million shares valued at N224.61 million. In all, investors traded 154.56 million shares valued at N2.27 million in 4,385 deals.

Analyzing by sectors, the Banking (-1.1%), Oil & Gas (-0.3%), and Insurance (-0.1%) indices declined, while the Industrial Goods index closed flat. The Consumer Goods (+0.6%) index was the sole gainer for the day.# Positioning in Geregu, Airtel Drive Stock Market Index Higher


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