NGX Investors Gain N313 Billion After Thursday Trading

The Nigerian Exchange Limited investors finished on Thursday with a positive trend as investors gained N313bn. After the close of trading on Wednesday, the eighth consecutive day win experienced in the NGX market was cut short as a market capitalisation loss of N638bn to close at N44.885tn.

All-Share Index increased by 0.70% on renewed investors' interest to close at 82,597.08, while market capitalisation closed by N45.198tn, which contributed to a year-to-date return of 10.46%.

The market recorded 48 gainers against 22 losers at the close of trading. Several stocks attracted positive attention from investors during Thursday's rebound. 

Top Gainers: Guinea Insurance, Royal Exchange, Julius Berger, Cadbury Plc and The Initiates Plc, whose stocks increased by 10%, 10%, 9.92%, 9.77%, and 9.74%, respectively, to close at N0.44, N0.99, N56.50, N21.90,  and N1.69 per unit.

Top Losers: Abbey BDS, Ikeja Hotel, Caverton, Daar Communication and NPFMCRBK lost 9.90%, 9.90%, 9.66%, 9.38%, and 7.91%, respectively.

Trading activity levels on Thursday declined as trading volume and value were affected. Traded volume declined by 46.55% to 877.28 million units, and a 43.20% decrease in the total traded value, totalling N14.41bn. However, total deals increased by 26.23%, reaching 14,919 trades.

Positive investor sentiment was observed, with the banking index leading gainers with a 2.73% increase. Positive movements in the prices of United Bank for Africa, FBN Holding, Fidelity Bank and Sterling Financial Holding Company Plc drove this. 

The Insurance and Consumer goods indexes followed with 0.51% and 0.39%, respectively, attributed to buying interest in Guinea Insurance, Sunu Assurance, Prestige Assurance Plc, Cadbury and Champion.