NGX Market Capitalisation Bounce by N164 Billion in Wednesday Trading Session

Yesterday, the Nigerian Exchange Limited (NGX) stock market recovered from prior days' losses as investors renewed interest in United Bank for Africa Plc (UBA), BUA Cement Plc, and nine others, pushing the market capitalisation up by N165 billion.

NGX investors finished on a positive note at the close of Wednesday's trading session as market capitalisation gained N165 billion from the previous day, which led NGX market capitalisation to go down following investors' role in profit-taking in a two-day decline. At the trading day's close, market capitalisation was down by N729 billion, totalling the two-day loss to N2.55 trillion.

Market capitalisation rose by N165 billion to close at N55.464 trillion from N55.299 trillion. Its stock market opened for trading yesterday.

The NGX All-Share Index (ASI) gained 301.71 basis points, or 0.30%, to close at 101,362.38 basis points from 101,060.67 basis points it closed for trading the previous day.

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The NGX Industrial Goods rose by 1.6%, NGX Banking appreciated by 0.3%, and NGX Oil & Gas gained 0.1%, while NGX Insurance dropped by 2.5% and NGX Consumer Goods declined by 0.2%.  

As measured by market breadth, market sentiment remains weak, as 11 stocks gained relative to 43 declining.

Top Gainers: FBNH led with 9.96% to close at N28.70 per share. Juli followed with a gain of 9.60% to close at N1.94, while Mutual Benefits Assurance advanced by 9.38% to close at 70 kobo per share. Regency Alliance Insurance followed with 7.32% to close at 44 kobo, while BUA Cement appreciated by 4.93% to close at N150.00. 

Top Losers: Okomu Oil led with 10% to close at N243.00 per share. Morison Industries followed with a decline of 9.69% to close at N2.05, while Sterling Financial Holdings Company shed 9.58% to close at N4.34 per share. Japaul Gold and Ventures followed with 9.34% to close at N2.33, while Caverton Offshore Support Group depreciated by 9.19% to close at N1.68 per share.

The total volume of trades increased by 18.19% to 302.740 million units, valued at N6.552 billion, and exchanged in 8,611 deals. Transactions in the shares of FBNH led the activity with 39.378 million shares worth N1.103 billion. Japaul Gold & Ventures followed with an account of 30.196 million.

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Shares were valued at N71.041 million, while Transnational Corporation (Transcorp) traded 27.362 million shares at N353.098 million.

Veritas Kapital Assurance traded 23.373 million shares worth N16.808 million, while Guaranty Trust Holding Company (GTCO) traded 17.176 million shares worth N667.211 million.