Wednesday, December 7, 2022

NGX: Indices rise by 1.09% amid renewed bullish transactions

The market capitalisation gained N262 billion to close at N24.233 trillion from N23.971 trillion on Thursday.

• November 18, 2022
Nigeria Exchange (NGX)
Nigeria Exchange (NGX)

The domestic stock market ended the week on a positive note amid gains in the stocks of Tier-one banks and MTN Nigeria.

Specifically, the market capitalisation gained N262 billion or 1.09 per cent to close at N24.233 trillion from N23.971 trillion on Thursday.

Similarly, the All-Share Index rose by 481.51 points or 1.09 per cent to close at 44,492.73 from 44,011.22 recorded on Thursday.

Consequently, the year-to-date (YTD) return rose to 4.16 per cent.

Market sentiment, as measured by market breadth, was negative, as 19 stocks lost relative to 11 gainers.

Nigerian Breweries recorded the highest price gain of 10 per cent to close at N41.25 per share.

Union Bank followed with a gain of 9.24 per cent to close at N6.50, while ABC Transport appreciated by 8.7 per cent to close at 25k per share.

Dangote Cement went up by 7.77 per cent to close at N238.50 per share.

Also, Mansard rose by 7.27 per cent to close at N1.77, while United Capital rose by 6.64  to close at N12.05 per share.

On the other hand, Fidson led the losers’ chart by 9.34 per cent to close at N8.15 per share.

WAPIC Insurance followed with a decline of  8.33 per cent to close at 33k and  Regency Alliance Insurance shed eight per cent to close at 23k per share.

Sovereign Trust Insurance lost 7.69 per cent to close at 24k, while Mutual Benefits Assurance shed 3.57 per cent to close at 27k, per share.

(NAN)

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