Wednesday, July 6, 2022

NGX: Market capitalisation rises by 1.25%

The market capitalisation upgraded by N320 billion to close at N25.95 trillion in contrast with N25.63 trillion achieved on Tuesday.

• April 20, 2022
Nigerian Exchange
Nigerian Exchange [Photo Creadit: Business Live Nigeria]

Transactions on the Nigerian Exchange Ltd., (NGX) on Wednesday maintained a positive posture with the market indices increasing by 1.25 per cent due to gains recorded by some blue chip companies.

The market capitalisation upgraded by N320 billion to close at N25.95 trillion in contrast with N25.63 trillion achieved on Tuesday.

Similarly, the All-Share Index (ASI) which opened at 47,545.86 points  closed at 48,138.71, representing 1.25 per cent.

Market analysts at Vetiva Research said, “Market witnessed an unexpected positive close in some counters that have been trading flat in recent sessions, while sustaining its profit taking activities in the banking space.

“We anticipate further mixed activity tomorrow as investors continue to cherry pick attractive counters across the board.”

Eterna Oil recorded the highest price gain in percentage terms, to lead the gainers’ chart, appreciating by 10 per cent to close at 50k per share.

Japaul Gold also had a gain of 10 per cent to close at 3k and Guinness rose by 9.96 per cent to close at N7.45 per share.

Meyer was up 9.66 per cent to close at 17k, while WAPIC appreciated by 9.52 per cent to close at 4k per share.

Conversely, UnionDicon topped the losers’ table, dropping by 9.6 per cent to close at 95kper share.

CWG followed with a loss of 9.28 per cent to close at 9k and JohnHolt depreciated by 8.97 per cent to close at 7k per share.

Regal Insurance went down by 8.57 per cent to close at 3k while Sunu Assurance shed by 8.33 per cent to close at 3k per share.

Analysis of the activity chart indicated that Universal Insurance emerged the most active in volume terms, having accounted for 73.05 million shares worth N14.61 million.

It was followed by Zenith Bank with an exchange of 33.65 million shares valued at N571.51 million and Fidelity Bank sold 20.73 million shares worth N79.96 million.

United Bank for Africa (UBA) exchanged 20.06 million shares valued at N160.5 million, while Mutual Benefits Assurance sold 16.37 million shares worth N3.95 million.

In all, investors staked N3.699 billion on 349.56 million shares transacted in 4,587 deals against 365.45 million shares worth N7.11 billion achieved in 5,790 deals on Tuesday.


We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Justin Trudeau /IRCC

Hot news Home top

Canada resumes immigration and Express Entry draws

In June, Prime Minister Justin Trudeau announced that a new task force had been established to handle immigration processing delays.

Ram market


Sallah: Ram dealers lament low patronage in Gombe

The dealers who had stocked animals such as ram, goat, sheep and bulls for the festive season, complained of low patronage amid poor market conditions.

U.S. Vice President Kamala Harris


Mass Shootings: Kamala Harris proposes ban on assault weapons

“We’ve got to be smarter as a country in terms of who has access to what, in particular assault weapons,’’ Ms Harris said.

Stephen Dawulung and FRSC officers


700 Road Safety operatives to man Kogi highways during Sallah: Commander

Kogi sector commander Stephen Dawulung said that the team would also checkmate carnage during the festivities.

Former Imo State Governor Rochas Okorocha


EFCC should let Okorocha travel abroad for medical treatment: Court

“But if I grant this application and the defendant fails to appear on the next adjourned date, I will make an order declaring him wanted.”

President Muhammadu Buhari


JUST IN: Buhari, security chiefs head to Senegal for regional economic summit

Central Bank Governor Godwin Emefiele and foreign minister Geoffrey Onyeama are also among top administration officials heading to Dakar on Thursday, the State House said.