Investors Record Gain At Trading In Nigeria Exchange

Nigerian Stock Exchange

At the completion of trading on the Nigerian Stock Exchange Limited’s floor on Wednesday, investors saw a tiny increase of N1.7 billion (NGX).

The market capitalisation of equities listed on the NGX increased from N26.183tn to N26.185tn, while the NGX All-Share Index increased from 48,568.57 basis points to 48,571.75 basis points.

At the close of trading on Wednesday, eighteen firms had gained ground, while 23 companies had lost ground.

Investors traded 246.7 million shares for N2.32 billion in 5,033 transactions.

Academy and Wema Bank were the top gainers, with share prices rising 9.92% and 9.88% to N1.33 kobo and N3.67 kobo, respectively, while Cadbury and UPDC’s share prices gained 9.68% and 9.09% to N8.50 kobo and 0.96 kobos, respectively.

Ikeja Hotels and Lickstock were the biggest losses, with share prices falling 9.68% and 9.50% to N1.40 kobo and N1.62 kobo, respectively. Chi Plc and Union Bank’s share prices plummeted 9.38% and 6.250% to 58 kobos and N6.00 kobo, respectively.

“For the majority of today’s session, the Nigerian stocks market traded quietly; nevertheless, gains registered in BUACEMENT (+1.0%) and Guinness (+7.5%) ensured the market closed higher amid profit-taking on some banking names,” according to Cordros Capital research.

Cordros Capital research said, “For most of today’s session, the Nigerian equities market traded quietly; however, gains recorded in BUACEMENT (+1.0 per cent) and Guinness (+7.5 per cent) ensured the market closed higher amid profit-taking on some banking names.

“Thus, the All-Share Index increased by 1bp to 48,571.75 points, with the month-to-date and year-to-date returns unchanged at +3.4 per cent and +13.7 per cent, respectively.”

On sector performance, it said, “The Consumer Goods (+0.7 per cent) and Industrial Goods (+0.4 per cent) indices recorded gains, while the banking (-1.5 per cent), insurance (-0.9 per cent), and oil & gas (-0.7 per cent) indices declined.”

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