NGX ASI Crosses 71,000 Basis Points 

The Nigerian Exchange Limited All-Share Index (NGX ASI) on Wednesday crossed 71,000 basis points to 71,014.34 basis points as positive sentiments continued to dictate tune on the trading floor of the NGX.

The All-Share Index tracks the general market movement of all listed equities on Nigerian Exchange, including those listed on the Growth Board, regardless of capitalization.

Gains recorded by BUA Cement Plc, and 38 others lifted the NGX All-Share Index (ASI) by 173.62 basis points or 0.25 per cent to close at 71,014.34 basis points.

Also, market capitalisation gained N113 billion to close at N39.054 trillion.

The upturn was driven by price appreciation in large and medium-capitalised stocks amongst which are; BUA Cement, NASCON Allied Industries, Oando, Guaranty Trust Holding Company (GTCO) and MeCure Industries.

As measured by market breadth, market sentiment was positive, as 39 stocks gained relative to 19 losers. Oando and Omatek Ventures emerged the highest price gainer of 10 per cent each to close at N11.55 and 77 kobo respectively, while MeCure Industries followed with a gain of 9.92 per cent to close at N5.21, per share.

C&I Leasing rose by 9.87 per cent to close at N4.12, while Meyer appreciated by 9.73 per cent to close at N3.27, per share. On the other side, SCOA Nigeria led others on the losers’ chart with 9.68 per cent to close at N1.12, per share. Sovereign Trust Insurance followed with a decline of 8.82 per cent to close at 31 kobo, while Cornerstone Insurance declined by 4.83 per cent to close at N1.38, per share.

Cadbury Nigeria lost 4.17 per cent to close at N13.80, while AIICO Insurance depreciated by 4.05 per cent to close at 71 kobo, per share.

Meanwhile, the total volume traded decreased by 9.2 per cent to 297.35 million units, valued at N6.16 billion, and exchanged in 6,172 deals. Transactions in the shares of Oando led the activity with 27.967 million shares worth N315.268 million. AIICO Insurance followed with account of 23.043 million shares valued at N16.392 million, while Japaul Gold & Ventures traded 20.377 million shares valued at N38.355 million.

Transnational Corporations (Transcorp) traded 14.533 million shares worth N88.344 million, while Consolidated Hallmark Insurance traded 14.174 million shares worth N14.547 million.