The equities market of the Nigerian Exchange Limited (NGX) closed higher for the fourth consecutive trading session on Wednesday’s outing, gaining N87 billion on price appreciations in BUA Cement Plc and 27 others.
The NGX All Share Index (ASI) rose by 159.71 basis points, or 0.23 percent to close at 70,773.31 basis points. Also, market capitalisation appreciated by N87 billion to close at N38.885 trillion.
The uptrend was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Nigerian Exchange Group, GlaxoSmithKline Consumer Nigeria, Large Afric, and NEM Insurance.
In addition, the market breadth was positive, recording 28 gainers and 24 losers. Japaul Gold & Ventures recorded the highest price gain of 9.87 percent to close at N1.67 per share. Me Cure Industries followed with a gain of 9.80 percent to close at N3.25, while Prestige Assurance rose by 9.76 percent to close at 45 Kobo, per share.
Cornerstone Insurance gained 9.72 percent to close at N1.58, while Omatek Venture appreciated by 9.62 percent to close at 57 Kobo, per share. On the other hand, Caverton Offshore Support Group led the losers’ chart by 9.87 percent to close at N1.37 per share.
Meyer followed with a decline of 9.85 percent to close at N2.47, while SCOA Nigeria lost 9.60 percent to close at N1.13, per share.
Thomas Wyatt Nigeria depreciated by 8.60 percent to close at N3.72, while UACN Property Development Company (UPDC) declined by 8.26 percent to close at N1.11, per share.
The total volume traded increased by 24.3 percent to 558.34 million units, valued at N9.79 billion, and exchanged in 6,401 deals. Transactions in shares of FBN Holdings (FBNH) topped the activity chart with 209.898 million shares valued at N4.043 billion. United Bank for Africa (UBA) followed with 53.724 million shares worth N1.1 billion, while Universal Insurance traded 43.681 million shares valued at N10.194 million.
Fidelity Bank traded 22.254 million shares valued at N203.733 million, while Unity Bank sold 18.029 million shares worth N16.861 million.
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