Stock Market Starts Week With N3.45bn Gain, 5 Top Companies Emerge

• The Nigerian Exchange closed the first trading session of the week with a marginal gain for investors
• On the trading day, Nigeria Police Microfinance Bank Plc, Morison Industries Plc led the gainers’ table
• While May & Baker Nigeria Plc, Neimeth International Pharmaceuticals Plc, ABC Transport Plc topped the losers’ list

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience, with in-depth knowledge of the Nigerian economy, the equities market, and general market trends.

The stock market ended the day marginally higher, gaining 0.003%, amid renewed interest in real estate, aviation, and select financial stocks.

At the close of trading, the Nigerian Exchange Limited All-Share Index edged up to 165,517.56 points from the previous session’s 165,512.18 points.

Market capitalisation also rose by N3.45 billion to close at N105.96 trillion.

Checks show that market sentiment closed flat, with 35 gainers and 35 decliners, reflecting a balanced trading session.

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Here is a snapshot of the market for the day

Trading activity declined, with total volume falling 17.77% to 601.65 million shares exchanged in 58,429 deals, valued at N17.30 billion.

Here are the winners and losers for the day.

Top 5 gainers

1. Nigeria Police Microfinance Bank Plc rose by 51 kobo, from N5.10 to N5.61 per share (+10.00%).
2. Morison Industries Plc gained 75 kobo, advancing from N7.52 to N8.27 per share (+9.97%).
3. Union Homes Real Estate Investment Trust appreciated by N7.10, climbing from N71.35 to N78.45 per unit (+9.95%).
4. Deap Capital Management and Trust Plc increased by 71 kobo, rising from N7.14 to N7.85 per share (+9.94%).
5. Zichees International Limited added 26 kobo, moving from N2.62 to N2.88 per share (+9.92%).

Top 5 decliners:

1. May & Baker Nigeria Plc dropped by N4.35, falling from N43.50 to N39.15 per share (-10.00%).
2. Neimeth International Pharmaceuticals Plc declined by N1.30, decreasing from N13.25 to N11.95 per share (-9.81%).
3. ABC Transport Plc lost 53 kobo, sliding from N5.68 to N5.15 per share (-9.33%).
4. Computer Warehouse Group Plc fell by N2.20, dropping from N24.30 to N22.10 per share (-9.05%).
5. Sovereign Trust Insurance Plc shed 34 kobo, down from N3.79 to N3.45 per share (-8.97%).

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Top 5 trades by volume:

1. Chams Plc recorded 41.6 million shares valued at N210.1 million.
2. Access Holdings Plc traded 34.4 million shares worth N768.6 million.
3. Guaranty Trust Holding Company Plc exchanged 31.6 million shares valued at N3.11 billion.
4. Zenith Bank Plc posted 26.0 million shares worth N1.84 billion.
5. Guinea Insurance Plc recorded 25.0 million shares valued at N33.2 million.

Investors urge Dangote to list refinery

Earlier, Legit.ng reported that Investors have appealed to Aliko Dangote, president of the Dangote Group, to fast-track the listing of the Dangote Petroleum Refinery on the NGX, urging that it would enable ordinary Nigerians to own shares and benefit from dividends and capital appreciation.

The call was made by the President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, who spoke on behalf of investors

Source: Legit.ng