NGX: Equity investors gain N46 billionEconomy

Consequently, the market capitalisation gained N46 billion or 0.08 per cent from an opening of N55.601 trillion to close at N55.647 trillion.

News Agency of Nigeria • September 3, 2024

Nigeria Exchange (NGX)

Sustained interest in banking stocks on Tuesday further added N46 billion in profit to the portfolios of investors.

Specifically, gains in Access Corporation, Guaranty Trust Holding Company(GTCO), Stanbic IBTC, FCMB Group, and Sterling Nigeria, among other advanced equities, drove the market to a positive terrain.

Consequently, the market capitalisation gained N46 billion or 0.08 per cent from an opening of N55.601 trillion to close at N55.647 trillion.

The All-Share Index also advanced by 0.08 per cent or 80 points to close at 96,873.74 points, in contrast to 96,793.95 points reported on Monday.

As a result, the Year-To-Date return increased by 29.56 per cent.

However, market breadth closed slightly negative, with 30 losers and 29 gainers on the exchange floor.

RT Briscoe led the gainers’ table by 10 per cent to close at N2.88, and Abbey Mortgage Bank trailed by 9.96 per cent to close at N2.53 per share.

Secure Electronic Technology also lost 9.72 per cent to close at 65k, McNichols shed 9.68 per cent to close at N1.40, while Tantalizers decreased by 9.23 per cent to close at 59k per share.

Conversely, Industrial Medical Gas, C&I Leasing, and Guinea Insurance led the gainers table by 10 per cent each to close at N31.90, N4.07 and 55k per share, respectively.

Eterna Plc also advanced by 9.90 per cent to close at N32.20 per share, while E-transact rose by 9.82 per cent to close at N6.15 per share.

Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 5.67 per cent.

Four hundred seventy-three million shares valued at N10.41 billion were exchanged in 12,532 deals, compared to 498.12 million shares valued at N11.04 billion traded in 13,149 deals posted in the previous session.

On the activity chart, Access Corporation led in volume with 106.28 million shares worth N2.04 billion, and Oando followed with N46.92 million shares valued at N4.32 billion, leading the chart in value.

Prestige sold 31.74 million shares worth N16.60 million, United Bank For Africa (UBA) transacted 20.18 million shares valued at N486.80 million.

Transnational Corporation also traded 17.75 million shares worth N194.33 million.

(NAN)

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