NGX records N132bn market capitalization gain

NGX records N132bn market capitalization gain

The Nigerian Stock Exchange recorded a N132 billion market capitalization gain at the close of trading on Wednesday.

Accordingly, the market capitalization opened at N56.031 trillion and closed at N56.163 trillion, representing a 0.24 percent or N132 billion gain.

The All-Share Index is up by 0.24 per cent or 233.4 points, to close at 99,284.38 compared to 99,051.02 posted on Tuesday.

As a result, the Year-To-Date (YTD) return rose to 32.78 percent.

Top gainers are Zenith Bank, FBN Holdings and Stanbic IBTC, Fidelity Bank, Wema Bank, Nigerian Breweries, and Nestle Nigeria, among other advanced equities, which were the primary drivers of the market index’s recovery.

Meanwhile, market breadth closed negative, with 24 negative equities outnumbering 18 positive ones.

Oando led the losers’ table by 9.86 percent to close at N12.80, Linkage Assurance followed by 9.41 percent to settle at 77 kobo, and Sovereign Trust lost 8.70 percent to close at 42k per share.

Veritas Kapital declined by 8.70 percent to close at 63k and Wapic Insurance dropped 8.50 percent to settle at 64k per share.

Conversely, Eterna Plc led the gainers table by 9.80 percent to close at N13.45, and Red Star Express Plc trailed by 9.76 percent to close at N3.71 per share.

Stanbic IBTC advanced by 9.62 percent to close at N57, Fidelity Bank added eight percent to close at N10.80, while International Breweries rose by 7 percent to close at N3.99 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 36.49 percent.

A total of 308.14 million shares valued at N4.86 billion were exchanged in 7,690 deals, compared to 347.39 million shares valued at N7.66 billion exchanged in 8,122 deals recorded in the previous session.

Meanwhile, Fidelity Bank led the activity chart in volume and value with 84.05 million shares worth N883.22 million, and Oando followed with 52.52 million shares valued at N710.81 million.

Veritas Kapital sold 19.40 million shares valued at N12.45 million, Unity Bank transacted 11.98 million shares worth N15.38 million and Transnational Corporation traded 11.13 million valued at N117.66 million.

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