NGX Investors Gain N215 Billion as the Market Benchmark Index Crosses 72,000 Points

The Nigeria Exchange Limited (NGX) All-Share Index increased by 0.55% on Wednesday, and the benchmark index rose to 72,299.79 points; this is the first time in history that the benchmark index has crossed 72,000 basis points.

Market capitalization at the end of Wednesday increased by 0.55% to close at N39.563 trillion, meaning that investors gained N215 billion at the close of the market that same day.

Market breadth, the measure of investors’ sentiments, was positive, resulting in 34 stocks gaining and 16 stocks losing. 

Transaction volume rose to 433.180 million from 319.56 million trades valued at N8.08bn from 6,650 deals executed. The total number of stocks that traded during Wednesday’s trading session stood at 119.

Sectoral performance was a mixed bag, with two of the five tracked indexes ending in the green, two remaining relatively flat, and one posting losses. The Banking and Consumer goods indexes led the gainers, advancing by 0.94% and 0.07%, respectively. In contrast, the Insurance sector faced a decline, plummeting by 1.80%. At the same time, the Oil and gas and Industrial Goods indexes held steady compared to the previous session, according to the PUNCH report.

Top Gainers: SCOA, Infinity Trust Mortgage Bank, AccessCorp, Cornerstone Insurance, and Transcorp Hotel, which gained 9.88%, 9.86%, 8.09%, 7.41%, and 6.83% to close at N1.78, N2.34, N22.05, N1.45, and 46.90 per unit, respectively.

Top Losers: University Press Plc, Sunu Assurance, Regency Alliance Insurance, Eterna, and Flour Mills with -9.82%, -9.38%, -8.11%, -8.03%, and 4.57% losses, respectively.

Banking stocks, AccessCorp, GTCO, Zenith Bank, United Bank for Africa, and Sterling Financial Holdings led the volume and value drivers of the day’s market trend. NAHCO shares also made it to the top turnover table. 

The total volume traded advanced by 35.6% to 433.18 million units, valued at N8.08 billion, and exchanged in 6,650 deals. Transactions in the shares of Access Holdings led the activity, with 60.182 million shares worth N1.305 billion.