NGX Market Capitalisation Gains N273 Billion in Mid-Week Trading Session

The Nigerian Stock Market continued its bull run yesterday, finishing with a gain of N273 billion compared to Tuesday's closing, which saw an increase of N837 billion as stocks advanced. Yesterday's gains were due to renewed interest in the United Bank for Africa (UBA), MTN Nigeria Communication Plc, and 30 others.

The All-Share Index (ASI) gained 482.87 basis points, or 0.47%, to close at 104,007.31 basis points from the 103,524.44 basis points it opened for trading. The NGX market capitalisation increased by N273 billion to close at N58.807 trillion from the N58.534 trillion it opened for trading. 

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On sectors, the NGX Banking Index added 2%, NGX Insurance grew by 0.8%, and NGX Consumer Goods appreciated by 0.2%, while the NGX Industrial Goods and NGX Oil & Gas indices closed flat.

Investor sentiment, as measured by market breadth,, was positive, as 32 stocks gained relative to 23 losers. 

Top Gainers: ETI and Julius Berger led the chart with 10% each to close at N22.00 and N67.10, respectively, while NEM Insurance followed with a gain of 9.92% to close at N6.65 per share. RT Briscoe followed with 8.89% each to close at 49 kobo, while Omatek Ventures rose by 8.70% to close at 75 kobo per share. 

Top Losers: Skyway Aviation Handling Company led with 10% to close at N22.95 per share. This was followed by SUNU Assurance with a decline of 9.62% to close at N1.41, while May & Baker Nigeria shed 5.90% to close at N5.10 per share. Lasaco Assurance declined by 5.66% to close at N2.00, while Japaul Gold & Ventures depreciated 4.35% to close at N2.20 per share.

The total volume traded decreased by 42.21% to 326.945 million units, valued at N9.120 billion, and exchanged in 9,570 deals. Transactions in the shares of Transnational Corporation (Transcorp) led the activity with 38.950 million shares worth N642.226 million. Unity Bank followed with an account of 37.202 million shares valued at N69.827 million, while GTCO traded 26.435 million shares valued at N1.172 billion.

United Bank for Africa (UBA) traded 21.289 million shares worth N565.245 million, while FBN Holdings (FBNH) traded 18.615 million shares worth N625.689 million.