Investors at NGX Gains N1.01 Trillion in Thursday Trading Session

At the end of Thursday's trading session, the Nigerian Stock Exchange gained N1.01 trillion, leading market capitalisation to hit N50.289 trillion from N49.284 trillion it closed on Wednesday. Eterna Plc, Conoil Plc, Nem Insurance and John Holt Plc led the gainers chart, appreciating by 10%.

This is a new record for the exchange, setting and breaking milestones daily as the bullish rally continued at the NGX.

The All-Share Index increased 2.04% to close at 91,896.97 basis points despite crossing its historic high of 90,000 points on Wednesday. The NGX year-to-date index gain has also risen to 22.90 per cent.

Investors buying interest in big conglomerates like Dangote Cement Plc, BUA Cement Plc, MTN Nigeria Communication Plc and Dangote Sugar Refinery Plc boosted the performance of the stock market as about 469,890,749 units of their shares valued at about N6.191 bn were traded on the exchange.

Dangote Cement increased by 8.27% to close at N489.90 per share, and BUA Cement followed by 8.96% to close at N135 per share. MTN Nigeria and Dangote Sugar Refinery increased by 0.03% and 4.37% to close at N288.10 and N76.50 per share, respectively.

The analysis also revealed that the NGX Industrial Goods Index gained 7.8%, the NGX Oil & Gas Index added 2.7%, and the NGX Consumer Goods Index appreciated by 0.9%. The NGX Insurance Index dropped by 2.1%, and the NGX Banking Index dipped by 1.9%.

The NGX market breadth finished negative as 34 stocks gained while 42 stocks lost.

Top Gainers: Conoil Plc, Eterna Plc, JohnHolt Plc, NEM Insurance Plc, and Unity Bank Plc appreciated by 10% each to close at N112.20, N20.90, N2.53, N8.25 and N3.30, respectively.

PZ Cussons Nigeria Plc and May & Bakers followed with 9.96% to close at N39.20 and N7.51 per share, respectively.

Mcnichols gained 9.94% to close at N1.77 per share as Abbey Mortgage Bank Plc grew by 9.93% to close at N2.99 per share.

Top Losers: Ikeja Hotel Plc depreciated by 9.79% to N8.11 per share, Royal Exchange was followed by 9.78% to N0.83 per share, and Mutual Benefit dropped by 9.57% to close at N0.85 per share.

Linkage Assurance Plc fell by 9.40% to close at N1.35 per share, as Japaulgold declined by 9.33% to close yesterday at N2.43 per share.

The total volume traded declined by 12.2 per cent to 1.14 billion units, valued at N19.29 billion, and exchanged in 17,804 deals.

Transcorp was the most traded stock by volume and value at 156.62 million units and N2.96 billion, respectively.