Thursday, December 8, 2022

NGX: Oando leads gainers chart as market capitalisation gains N94bn

Overall, the market was positive with 29 stocks gainers relative to 16 losers.

• July 26, 2021
Nigerian Exchange
Nigerian Exchange [Photo Creadit: Business Live Nigeria]

Transactions on the Nigerian Exchange (NGX) reopened on Monday on a bullish trend following investors’ interest in large and medium capitalised stocks like Oando.

Specifically, the market capitalisation inched higher by N94 billion or 0.47 per cent to close at N20.240 trillion from N20.146 trillion.

Also, the All-Share Index grew by 181.18 points or 0.47 per cent to close at 38,849.08 from 38,667.90 achieved on Friday.

Accordingly, month-to-date gain increased to 2.5per cent, while year-to-date loss moderated to 3.5 per cent.

The upturn was driven by price appreciation in Airtel Africa, Julius Berger, Ardova, Lafarge Africa and UACN.

Analysts at Afrinvest Ltd. expected the positive momentum to be sustained this week as more impressive first-half earnings results are churned out.

Overall, the market was positive with 29 stocks gainers relative to 16 losers.

Oando led the gainers’ chart in percentage terms with a growth of 9.82 per cent to close at N4.36 per share.

FTN Cocoa Processors followed with 9.76 per cent to close at 45k, while Ardova went up by 9.75 per cent to close at N17.45 per share.

BOC Gases rose by 9.74 per cent to close at N8.45, while Livestock Feeds gained 9.64 per cent to close at N2.16 per share.

On the other hand, Universal Insurance led the losers’ chart in percentage terms by 9.09 per cent to close at 20k per share.

Linkage Assurance followed with a decline of 7.14 per cent to close at 65k, while Sovereign Trust Insurance lost 6.90 per cent to close at 27k per share.

Africa Prudential lost 6.52 per cent to close at N6.45, while Regency Alliance Insurance shed 6.25 per cent to close at 45k per share.

Also, the total volume of trades rose by 7.08 per cent as investors bought and sold 246.56 billion shares valued at N2.24 billion exchanged in 4,676 deals.

This was in contrast with a total of 230.25 million shares worth N2.31 billion traded in 4,135 deals on Friday.

Transactions in the shares of Fidelity Bank topped the activity chart with 30.54 million shares valued at N73.77 million.

Access Bank followed with 14.71 million shares worth N136.72 million, while United Bank for Africa traded 13.84 million shares valued at N108.65 million.

Guaranty Trust Bank Holding Company (GTCO) sold 12.76 million shares worth N378.32 million, while Wema Bank transacted 11.27 million shares valued at N9.81 million.

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

Governor Bello Matawalle

Hot news Home top

2023: Zamfara says anti-thuggery committee to fight political hoodlums

The Zamfara Anti-thuggery Committee says the legislature established it to fight political thuggery, drug abuse and violent crimes among youths.

President Volodymyr Zelensky on Time magazine cover

Heading 5

Ukraine’s President Zelensky named Time’s ‘Person of the Year’

Russia’s President Vladimir Putin, who ordered the invasion of Ukraine earlier in the year, was Time’s person of the year in 2007.

A composite of trees and Governor Babagana Zulum


Desertification: Zulum to plant five million trees in Borno in 2023

The Borno government says it will plant five million trees in 2023 across the state.

Photo of Motorcycle and tricycle used to illustrate the story


Katsina revenue board seizes 240 motorcycles, tricycles

The Katsina State Internal Revenue Board says it seized 240 motorcycles and tricycles in its ‘Operation Show Your Particulars’.

Clement Jimoh Olukotun


Kidnapped Ondo ruler regains freedom

The abducted Oloso of Oso at Ajowa-Akoko in the Akoko North-West local government area of Ondo has regained his freedom.

Permanent Voters Cards (PVC) and Festus Okoye

Heading 2

Why we’re harvesting PVCs details of would-be voters: INEC

Would-be voters can collect their PVCs at INEC’s 774 local government offices from December 12 to January 5, 2023.