NGX records gain as market capitalisation hits N28.136 trillion

The Nigerian Exchange Ltd. (NGX) on Wednesday gained N34 billion as market capitalisation closed at N28.136 trillion from N28.102 trillion recorded on Tuesday.
Also, the All-Share Index (ASI) increased marginally by 61.9 basis points or 0.12 per cent gain to close at 51,657.56 as against 51,595.66 posted the previous day.
Consequently, the year-to-date (YTD) return rose to 0.79 per cent.
Zenith Bank, BUA Foods and Guaranty Trust Bank stocks drove the performance of the market.
Market breadth closed positive as 21 stocks gained, while 12 lost.
A breakdown of the price movement table showed that Nigerian Aviation Handling Company (NAHCO), Living Trust Mortgage Bank and Nigerian Breweries topped the gainers’ table with a gain of 10 per cent each to close at N7.70, N1.76 and N45.10 per share respectively.
First City Monument Bank (FCMB) trailed with a gain of 9.97 per cent each to close at N3.86 per share, while Fidelity Bank was up by 9.86 per cent to close at N4.79 per share.
Conversely, Champion Breweries led the losers’ table, dropping by 10 per cent each to close at N4.95 per share, respectively.
Unity Bank followed with a decrease of 6.78 per cent to close at 55k per share.
United Bank for Africa (UBA) shed 3.61 per cent to close at N8, while Jaiz Bank declined by 3.33 per cent to close at 87k per share.
Also, Chi Plc was down by 2.99 per cent to close at 65k per share.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions increasing by 106 per cent.
A total of 625.73 million shares valued at N13.53 billion were exchanged in 4,156 deals.
(NAN)
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

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

Economy
Cross River govt takes over Tinapa from AMCON
Governor Bassey Otu disclosed this on Tuesday at a media parley with selected journalists in Calabar.

States
Court jails 24-year-old security guard for stealing
The magistrate, in her judgment, however, gave the convict an option to either pay a N50,000 fine or spend six months in prison.

Economy
Tinubu committed to transparency, sustainable growth in oil, gas sector: NUPRC
President Bola Tinubu is committed to transparency, investment attraction, and sustainable growth in the oil and gas industry.

Economy
Bakassi Deep Seaport to be funded without loan: Governor Otu
The governor disclosed this on Tuesday at a media parley with selected journalists in Calabar.

States
Police apprehend six persons for transformer theft in Rivers
The police alleged that the suspects also robbed security guards of their phones and money.

Politics
Niger Delta: PANDEF leader Edwin Clark dies at 97
Mr Clark’s death was confirmed in a statement by the family in the early hours of Tuesday.