*As Bua Foods, MTNN pull key indicators northward
AT the close of business yesterday, transactions of securities in the premium board section of the NGX Exchange which are tagged iconic, amounted to 45.62 per cent of the total market capitalization of N25.362 trillion recorded.
The stocks recorded N11.569 trillion, the worth of 75.657 million shares traded across 1,165 deals.
The securities include shares of eight companies such as Access Bank, United Bank for Africa, Zenith Bank, FBN Holdings, MTN Nigeria Communications, Dangote Cement, Lafarge Africa and Seplat Energy segmented in just four different sectors; Financial services, ICT, Industrial Goods and Oil and Gas respectively.
These stocks which also are referred to as the frontliners combine forces with the most capitalized stocks on the exchange to determine the movement of market depending on the direction their prices move to.
Bua Foods and MTN Nigeria Communications which are part of the top six most capitalized stocks yesterday with their marginal increase of 0.82 pr cent and 0.25 per cent respectively pulled the key market indicators northward with an increase of 0.004 per cent and 0.003 per cent.
However, others in the top six most capitalized stocks on the exchange include Dangote Cement, Nestle, Airtel Africa and Bua Cement. These six stocks contributed N8.23 trillion market capitalization, representing 32.45 per cent of the overall market capitalization.
Specifically, the market witnessed a slight increase of N1 billion while the All Share Index went up by 1.54 basis points. Investors in all traded 274.207 million shares across 5331 deals.
On the price movement tables, 156 equities were traded on only 49 recorded price change. Leading the 28 gainers, Learn Africa, Morison, RT Briscoe, Veritaskap and Nascon added 9.70 pe cent, 9.55 per cent, 9.52 per cent, 9.52 per cent and 9.43 per cent respectively.
Others were NEM, FCMB, Multiverse, Flourmills and Cutix.
On the flip side, Berger Paint, Chi, Jabiz Bank, international breweris, ETI, Japaul Gold, Guinness and UBA all dropped 9.58 per cent, 4.62 per cent, 4.29 per cent, 2.86 per cent, 2.80 pe cent, 2.78 pe cent 2.33 per cent and 2.30 per cent respectively.
