The domestic equities market of the Nigerian Exchange Limited (NGX) on Wednesday recorded its third consecutive gain this week driven by sustained bargain hunting in Dangote Cement Plc and 46 others.
The Nigerian Exchange Limited All Share Index (NGX ASI) rose by 2,092.15 basis points or 2.38 percent to close at 90,063.25 basis points. Also, market capitalisation appreciated by N1.15 trillion to close at N49.284 trillion.
The uptrend was impacted by gains recorded in medium and large capitalised stocks, amongst which are Geregu Power, Dangote Cement, BUA Foods, BUA Cement, and Guinness Nigeria.
Market breadth closed positive as 47 stocks gained relative to 35 decliners. AIICO Insurance, SUNU Assurance, Guinness Nigeria, Honeywell Flour Mills, and Wema Bank recorded the highest price gain of 10 per cent each to close at N1.54, N1.76, N71.50, N4.84, and N11.66 respectively, per share.
BUA Cement followed with a gain of 9.99 percent to close at N123.90, while May & Baker Nigeria appreciated by 9.98 percent to close at N6.83, per share. On the other hand, R.T. Briscoe Nigeria led the losers’ chart by 10 percent to close at 81 kobo, per share. Dangote Sugar Refinery followed with a decline of 9.95 percent to close at N73.30, while Nigerian Exchange Group lost 9.84 percent to close at N22.90, per share.
Red Star Express depreciated by 9.47 percent to close at N4.11, while Sterling Financial Holdings Company declined by 9.09 percent to close at N6.90, per share.
The total volume of trades increased by 19.3 percent to 1.30 billion units, valued at N16.38 billion, and exchanged in 17,471 deals. Transactions in the shares of Sterling Financial Holdings Company topped the activity chart with 106.141 million shares valued at N800.259 million. Japaul Gold & Ventures followed with 101.122 million shares worth N268.795 million, while Transcorp traded 90.466 million shares valued at N1.577 billion.
Jaiz Bank traded 83.116 million shares valued at N321.467 million, while Unity Bank sold 73.415 million shares worth N237.656 million.
Comments are closed.