NGX resumes year upbeat, ASI up by 0.73%

Activities on the nation’s bourse kicked off the first trading session of the year on a positive note due to bargain hunting on BUA Cement.
Specifically, the All-Share Index advanced by 309.79 points or 0.73 per cent to close at 43,026.23 against 42,716.44 recorded on Friday.
Accordingly, the year-to-date return printed 0.7 per cent.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Stanbic IBTC Holdings, Flour Mills, Zenith Bank and Neimeth International Pharmaceuticals.
This week, United Capital expected the January buying interest to resume in no distant time as investors begin to position for full year 2021 dividend announcements.
However, market breadth was negative with 27 laggards against 18 gainers.
Academy Press drove the gainers’ chart in percentage terms by 10 per cent to close at 55k per share.
Wema Bank followed with 9.72 per cent to close at 79k, while Cornerstone Insurance was up by 8.70 per cent to close at 50k per share.
Neimeth International Pharmaceuticals rose by eight per cent to close at N1.89, while BUA Cement appreciated by 7.31 per cent to close at N71.95 per share.
On the other hand, Ardova, Northern Nigeria Flour Mills and Vitafoam led the losers’ chart in percentage terms by 10 per cent each to close at N11.70, N7.20 and N20.25 per share, respectively.
Chams followed with 9.09 per cent to close at 20k, while SUNU Assurances depreciated by 8.89 per cent to close at 41k per share.
The total volume of trades decreased by 52.4 per cent to 216.65 million shares valued at N1.52 billion exchanged in 4,080 deals.
This was in contrast with a total of 455.22 million shares worth N9.89 billion transacted in 2,829 deals on Friday.
Transactions in the shares of Chams topped the activity chart with 29.87 million shares valued at N6.08 million.
Wema Bank followed with 17.11 million shares worth N13.31 million, while Zenith Bank traded 11.04 million shares valued at N278.22 million.
Transcorp traded 10.76 million shares valued at N10.49 million, while Sovereign Trust Insurance transacted 10.48 million shares worth N2.86 million.