NGX Investors Make N508bn, ASI Reaches 73,000 Mark

Stock Exchange Closes Trading Week With N30bn Gain

On Wednesday, investors on the Nigerian Exchange Ltd. (NGX) won N508 billion as market performance indexes maintained their upward trends.

When compared to N39.657 trillion on Tuesday, the market capitalization finished at N40.165 trillion, a 1.28 percent rise. The All-Share Index (ASI) also broke the 73,000 milestone, closing at 73,397.71 points.

When compared to the previous trading session, the 73,391.71 index increased by 927.61 points, or 1.28 percent. As a result, the Year-to-Date (YTD) return increased to 43.21 percent.

Investors’ interest in the telecommunications and banking industries contributed to the strong performance.

They are Airtel Africa, and tier-one banks namely: Guarantee Trust Holding Company (GTCO), Access Holdings, First City Monumental Bank (FCMB), United Bank of Africa(UBA) and Transcorp Hotel.

Market activities showed trade turnover settled higher to the previous session, with the value of transactions up by 84.62 per cent.

A total of 554.64 million shares valued at N12.83 billion were exchanged in 7,910 deals. GTCO led the traders volume and value charts with 89.45 million units traded in deals worth N3.58 billion by 0.76 per cent.

Meanwhile, market breadth closed positive with 36 stocks on the gainers table and 22 on the laggard’s log. Multiverse led the gainers chart by 10 per cent, to close at N11.55, followed by TransCorp in percentage terms of 10 per cent, to close at N7.70 and Infinity closed at 3.75 by 9.97 per cent.

E-tranzact also gained 9.73 per cent to close at N6.20,while Caverton closed at N1.93 to gain 9.66 per cent. On the laggard’s table, Tantalizer led with a loss 10 per cent, to close at 45k, followed by Thomaswy by 9.86 per cent, to close at N2.65.

The Initiative Plc (TIP) declined by 9.32 per cent, to close at N1.07, while Juli also lost 9.23 per cent, to close at 59k, while Chams shed 9.05 per cent, to close at N1.81

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