Positive sentiments resurfaced in the equities sector of the Nigerian Exchange Limited (NGX) yesterday, following gains recorded by many blue-chip stocks, especially Seplat and NGX Group, as market capitalisation appreciated by N60 billion.

At the close of transactions yesterday, market capitalisation of listed equities increased by 0.17 per cent to N36.422 trillion from N36.362 trillion reported the previous day.

The All Share Index, which measures the performance of listed equities, also appreciated by 109.46 basis points to 66548.99 points from 66439.53 points reported on Wednesday.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Seplat Energy, Nigerian Exchange Group, Stanbic IBTC Holdings, Nigerian Aviation Handling Company (NAHCO) and Guaranty Trust Holding Company (GTCO).

Also, investor sentiment, as measured by market breadth, improved as 31 stocks advanced, while 19 declined.

On the price movement chart, NGX group led the gainers’ table with 10 per cent to close at N26.40 kobo while Seplat Energy followed with a gain of 9.95 per cent to close at N1837. Trans Express gained 9.38 per cent to N1.05 UPL added 9.32 per cent to close at N2.58 kobo while ABC Transport increased by 8.64 per cent to close at 88 kobo. Omatek rose by 7.69 per cent to close at 42 kobo.

Sunu Assurance appreciated by 7.50 kobo to close at 86 kobo. RT Briscoa advanced by 7.14 per cent to close at 45 kobo. Tantalizers gained 7.14 per cent to close at 30 kobo. CHI Plc also appreciated by 6.36 per cent to close at N1.17 kobo.

Conversely, Multiverse recorded the highest loss, declining by 10 per cent to close at N2.70 kobo.

National Salt Company of Nigeria (NASCON) followed with a drop of 9.81 per cent to close at N50.55 kobo, Honey Well Flour was down by 8.11 per cent to close at N3.40 kobo, May & Baker dipped by 7.27 per cent to close at N5.10 kobo while Jaiz Bank sheds 6.83 per cent to close at N1.50 kobo.

Analysts at Vetiva Dealing and Brokerage said: “The consumer goods sector was the star of the month, coming from a 4.58 per cent loss in July to returning 24.51 per cent in August.

“However, overall market performance for the month slipped by 2.09 per cent, due to the decline in the banking sector and much slower growth in the industrial and oil and gas sectors. We still expect mixed trading in September, as the market looks out for the next positive catalyst.”

Total volume traded decreased by 2.5 per cent to 620.98 million units, valued at N7.18 billion, and exchanged in 7,972 deals. Transactions in the shares of Sterling Financial Holdings Company topped the activity chart with 160.996 million shares valued at N531.392 million. Transnational Corporation (Transcorp) followed with 135.696 million shares worth N847.536 million.

Fidelity Bank traded 57.623 million shares valued at N403.334 million.

FTN Cocoa processors traded 47.177 million shares valued at N97.395 million, while Dangote Sugar Refinery sold 28.858 million shares worth N1.6 billion.