Market indices in month-high upswing as capitalisation gains N71 billion at NGX
The Nigerian Exchange Ltd. (NGX) on Wednesday maintained a positive performance as market capitalisation was up by N71 billion or 2.9 per cent to close at N25.181 trillion as against N24.471 trillion posted on Tuesday.
Also the All-Share Index (ASI) gained 1,303.04 points or 2.9 per cent to close at 46,232.37, compared with 44,929.33 on Tuesday, making it the highest since October 17.
As a result, the year-to-date (YTD) return rose to 8.23 per cent.
The stocks that drove the strong performance are Dangote Cement and BUA Cement.
Secure Technology led the gainers’ chart in percentage terms by 10 per cent to close at 22k per share.
Dangote Cement followed with a gain of 9.98 per cent to close at N262.30, while Bua Cement appreciated by 9.72 per cent to close at N79 per share.
Conerstone Insurance rose by 9.09 per cent to close at 48k, while Prestige Insurance appreciated by 8.11 per cent to close at 40k per share.
On the other hand, SCOA led the losers’ chart in percentage terms by 9.30 per cent to close at N1.17 per share.
Royal Exchange Assurance followed with 9.87 per cent to close at 71k, while Eternal Energy shed 4.76 per cent to close at N5.40 per share.
Cutix Plc lost 4.72 per cent to close at N2.02, while Chams depreciated by 4.32 per cent to close at N22 per share.
In all, the total volume of shares traded increased by 52.17 per cent to 187.81 million shares worth N1.84 billion traded in 3.458 deals.
This was in contrast with 126.56 million shares valued at N3.85 billion transacted in 3,383 deals the previous day.
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