NGX: Market capitalisation closes upbeat with N504 billion profit

Cutix Plc, Airtel Africa, Wema Bank, Ardova and First Bank of Nigeria Holdings led the price movement table.

News Agency of Nigeria • May 27, 2022

Nigerian Exchange [Photo Creadit: Business Live Nigeria]

The key performance indicators of the Nigerian Stock Exchange (NSE) closed on Friday with 1.76 per cent growth amid gains in stocks of First Bank of Nigeria Holdings (FBNH), Airtel Africa, amongst others.

Specifically, the market capitalisation on Friday inched higher by N504 billion or 1.76 per cent to close at N29.158 trillion against N28.654 trillion achieved on Thursday.

In the same vein, the All-Share Index increased by 933.98 points or 1.76 per cent to 54,085.3 points from 53,151.32 recorded on Thursday.

However, the market breadth closed flat with gainers and losers recording 19 each.

An analysis of the price movement chart indicates that Cutix Plc led the price movement table, appreciating by 9.96 per cent to close at N2.87 per share.

Airtel Africa followed with 9.89 per cent to close at N1,767, while Wema Bank gained by 8.63 per cent to close at N3.68 per share.

Ardova added by 7.09 per cent to close at N15.10, while FBNH improved by 6.98 per cent to close at N11.50 per share.

On the other hand, Nigerian Breweries recorded the highest loss to lead the laggards’ table, declining by 10 per cent to close at N69.30 per share.

UACN came second with a loss of 9.87 per cent to close at N10.50, while UPL dipped by 9.52 per cent to close at N2.85 per share.

Royal Exchange was down by 9.26 per cent to close at 98k per share and Linkage Assurance went down by 6.67 per cent to close at 56k.

Meanwhile, the volume of shares traded dropped marginally by 21.83 per cent with an exchange of 208.09 million shares valued at N5.52 billion in 5,647 deals.

This was in contrast with 266.18 million shares worth N5.12 billion achieved in 5,501 deals on Thursday.

Flour Mills stock dominated activities chart, accounting for 21.48 million shares valued at N746.77 million.

Guaranty Trust Holding Company (GTCo) followed with 20.14 million shares worth N464.52 million, while FBNH traded 17.96 million shares valued at N205.02 million.

Transcorp sold 13.98 million shares worth N18.1 million while AccessCorp exchanged 12.46 million shares valued at N122.06 million.

(NAN)

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