NGX Investors Gain N1.14 Trillion in Wednesday Trading Session

The Nigerian Stock Exchange recorded another win after the close of Wednesday's market as the NGX crossed 90,000 basis points. Market capitalisation increased by 2.38% or  N1.14 trillion to close at N49.284 trillion from N48.139 trillion it got in Tuesday's trading session, and the stock market opened for trading the same day.

The All-Share Index (ASI) increased by 2.38%, or  2,092.15 basis points, to close yesterday at 90,063.25 basis points from 87,971.10 basis points it opened for trading, bringing the Year-till-Date performance to 20.45%.

Buy interest was sustained in Dangote Cement Plc, BUA Cement Plc, and Geregu Power Plc strengthened the stock market performance, outweighing selloffs in Zenith Bank Plc, Guaranty Trust Holding Company and Dangote Sugar Refinery Plc.

Dangote Cement gained 9.86% or N40.60 to close at N452.50 per share from N411.90, while BUA Cement increased by 9.99% or N11.25 per share to close at N123.90 per share from N112.65 per share.

However, the performance on all sectors of the NGX was positive, as the NGX Industrial Goods Index increased by 8.8%, the NGX Insurance Index rose by 3.6%, the NGX Consumer Goods Index gained 1.9%, and the NGX Oil & Gas Index appreciated by 0.5%.

Although the NGX Banking Index decreased by 3.3%, it was said to be the sole loser of the day.

The market breadth and stock market sentiment were positive, as 48 stocks gained and 35 stocks lost.

Top Gainers: AIICO Insurance Plc, SUNA Assurance Plc, Honeywell Flour Mills Plc, and Wema Bank Plc finished at the top of the list with 10% each to close at N1.54, N1.76, N71.50, N4.84, and N11.60 per share, respectively.

BUA Cement followed with 9.99% to close at N123.90, as May & Bakers appreciated by 9.98% to close at N6.82 per share. In addition, Transcorp rose by 9.97% to close at N17.54 per share, as International Breweries Plc gained 9.95% to close at N6.08 per share.

Top Losers: R.T. Briscoe Nigeria led with 10% to close at 81 kobo per share. Dangote Sugar Refinery followed the trail with 9.95% to close at N73.30, while Nigerian Exchange Group lost 9.84% to close at N22.90 per share.

Red Star Express declined by 9.47% to close at N4.11, while Sterling Financial Holdings Company declined by 9.09% to close at N6.90 per share.

The total volume of trades increased by 19.3% to 1.30 billion units, valued at N16.38 billion, and exchanged in 17,471 deals. Transactions in the shares of Sterling Financial Holdings Company topped the activity chart with 106.141 million shares valued at N800.259 million. Japaul Gold & Ventures followed with 101.122 million shares worth N268.795 million, while Transcorp traded 90.466 million shares valued at N1.577 billion.

Jaiz Bank traded 83.116 million shares valued at N321.467 million, while Unity Bank sold 73.415 million shares worth N237.656 million.