Honeywell, Eterna lead the gainers on the inventory market

Shares of Honeywell Flour Mill and Eterna Oil led the gainers in late commerce on Wednesday, because the All-Share Index of the Nigerian Inventory Alternate Restricted depreciated marginally to 63,757.23 foundation factors from 63,766.72 recorded on Tuesday.

This got here a day after a Federal Excessive Courtroom sitting in Lagos awarded Honeywell Flour Mills N72.2 billion in damages in a case in opposition to Ecobank Nigeria.

The authorized dispute arose out of a collection of allegations and counterclaims between Honeywell Flour Mills and Ecobanka.

On the finish of buying and selling, market capitalization was additionally down by N5 billion to N34.716tn from N34.721tn on Tuesday.

A complete of 473,492,114 million shares valued at over N10.081 billion have been traded on the NGX in 7,403 offers. The year-to-date return was 24.40 %.

The wrestle for dominance between bears and bulls was mirrored within the variety of winners and losers on the inventory market, with 27 shares recording a loss, whereas 24 shares achieved development.

Some buyers capitalized on their positions in some main shares, resulting in positive aspects in Gereg (-10.00 %), Zenith Financial institution (-1.68 %), Wapco (-1.03 %), Accesscorp (-0.60 %) and FBNH (-0.56 %).

Then again, there was an appreciation within the value of Honeywell shares (+10.00 %). Different notable gainers embody Eterna (+9.98 %), PZ (+8.99 %), NB (+4.47 %), MTNN (+1.85 %) and GTCO (+0.87 %).

By way of sector efficiency, three of the 5 sub-sector gauges tracked closed within the inexperienced, with the NGX Insurance coverage, NGX Client Staples and NGX Oil/Gasoline indices down 0.52 %, 0.48 % and 0.62 %, whereas the NGX Index posted positive aspects, NGX5, respectively. % and 0.06 %, respectively.

By way of quantity, JapaulGold emerged as essentially the most actively traded inventory, with 77.98 million shares valued at N64.59 million in 355 offers.

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