Business

NGX equities trading maintains positive stance as investors gain N87.8bn

At the Nigerian Exchange Limited (NGX) on Wednesday, equities trading closed positively, extending its bullish streak as the All-Share Index (ASI) gained 0.23 per cent to close at 70,773.31 basis points.

Buying Interests in BUA Cement, Guaranty Trust Holding Company and United Bank for Africa kept the market in the green as the stock prices of these large capitalised companies appreciated by 1.90 per cent, 0.28 per cent and 1.47 per cent, respectively.

Consequently, the Month-to-Date and Year-to-Date gains increased to +2.2 per cent and +38.1 per cent, respectively.

Thus, at the end of trading activities on Wednesday, equities investors further gained N87.79 billion cumulatively as the market capitalisation closed the day at N38.89 trillion.

As measured by market breadth, market sentiment was positive as 26 tickets gained relative to 24 losers.

On the performance board, Japaul Gold and Prestige Insurance topped the gainers’ list after their respective share prices appreciated by 9.9 per cent and 9.8 per cent, while Caverton and Meyer recorded the most significant losses of the day having depreciated in share value by 9.9 per cent respectively.

Across the sectors, the Insurance, Industrial Goods, and Banking indices advanced by 2.7 per cent, 0.9 per cent and 0.3 per cent, respectively; while the Oil & Gas index closed flat. The Consumer Goods index was the sole loser of the day.

Activities at the local bourse on Wednesday was robust as analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 79.88 percent. A total of 558.34 million shares valued at N9.79 billion were exchanged in 6,401 deals.

First Bank of Nigeria Holdings led volume and value charts with 209.90 million units traded in deals worth N4.04 billion.

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