Bullish rally persists as beneficial properties in Presco, others raise index additional by 0.2% | The Guardian Nigeria Information


Buying and selling on the Nigerian Change Restricted (NGX) sustained a rising profile on the finish of yesterday’s transactions, as beneficial properties in Presco, 31 shares lifted the All-share index by 0.2 per cent.

Particularly, on the shut of transactions yesterday, the All-Share Index (ASI) rose by 79.31 factors, representing a rise of 0.2 per cent to shut at 52,917.76 factors whereas the general market capitalisation worth gained N42 billion to shut at N28.528 trillion.

The upturn was impacted by beneficial properties recorded in medium and huge capitalised shares, amongst that are; Presco, Okomu Oil, Lafarge Africa, Flour Mills of Nigeria and Ardova.

GTI Securities Restricted stated “Inventory market continues its spectacular run for the second consecutive day. We count on the cut price searching to persist, as extra buyers are positioned to hedge in opposition to rising inflation.”

Investdata Consulting Restricted stated: “We count on the bulls to proceed on growing position-taking because the market reacted to Airtel Africa’s full-year outcome and portfolio rotations as market gamers digest the better-than-expected Q1 company earnings launched, forward of March year-end 2022 audited financials with dividend bulletins to help an uptrend within the new month amid the rebound in oil costs.”

Market sentiment, as measured by market breadth, was optimistic as 32 shares gained whereas 23 others depreciated in value. Fidson Healthcare recorded the very best value acquire of 9.95 per cent to shut at N11.38 kobo whereas Eterna adopted with a acquire of 9.94 per cent to shut at N7.19 kobo. McNichols Plc rose by 9.91 per cent to shut at N1.22 kobo.

GlaxoSmithKline Client Nigeria rose by 9.87 per cent to shut at N8.35 kobo whereas Lafarge Africa appreciated by 9.86 per cent to shut at N31.75 kobo. Worldwide Breweries garnered 9.55 per cent to shut at N9.75 kobo. Champion Breweries gained 9.48 per cent to shut at N4.85 kobo.

Ardova appreciated by 8.96 per cent to shut at N15.20 kobo. Presco added 8.11 per cent to shut at N200.00. PZ Cussons added 6.79 per cent to shut at N11.80 kobo whereas Neimeth appreciated by 6.71 per cent to shut at N1.75 kobo.

However, Academy Press led the losers’ chart by 9.73 per cent to shut at N1.67 kobo. Consolidated Hallmark Insurance coverage adopted with a decline of 9.68 per cent to shut at 56 kobo whereas Linkage Assurance depreciated by 8.70 per cent to shut at 63 kobo, per share.

Veritas Kapital Assurance declined by 4.55 per cent to shut at 21 kobo, whereas AIICO Insurance coverage depreciated by 3.80 per cent to shut at 76 kobo, per share.

In the meantime, the full quantity of trades rose by 2.07 per cent to 426.018 million items, valued at N5.697 billion, and exchanged in 7,639 offers.

Transactions within the shares of Transnational Company of Nigeria (Transcorp) topped the exercise chart with 94.397 million shares valued at N122.725 million. Zenith Financial institution adopted with 24.481 million shares value N590.081 million.

Lafarge Africa traded 19.234 million shares valued at N601.948 million.

Abbey Mortgage Financial institution traded 18.366 million shares valued at N24.390 million, whereas Entry Holdings transacted 18.366 million shares value N163.579 million.



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