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Investors gain N9bn on NGX

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The Nigerian Exchange Ltd. (NGX) on Wednesday recorded N9 billion gain due to price appreciatIon in Dangote Cement and some tier-one banking stocks.

The primary drivers of the market were Dangote Cement, Guaranty Trust Holding Company (GTCO), Zenith Bank and United Bank for Africa (UBA).

Consequently, the year-to-date (YTD) return rose to 1.78 per cent.

In summary, the market capitalisation shed N9 billion or 0.04 per cent to close at N23.681 trillion, compared with N23.672 trillion posted the previous day.

Also, the All-Share Index (ASI) dropped by 15.88 points, representing 0.04 per cent to close at 43,477.48 from 43,461.60 recorded on Tuesday.

Market breadth was positive as 11 stocks gained, relative to 10 losers.

Unity Bank recorded the highest price gain of 9.09 per cent to close at 48k, while Linkage Assurance followed with a gain 7.69 per cent to close at 42k, per share.

Royal Exchange rose by 7.32 per cent to close at 88k, while Chams appreciated by 4.35 per cent to close at 24k, per share.

Mutual Benefits Assurance garnered 3.85 to close at 27k, per share.

On the other hand, Honeywell Floure led the losers’ chart by 9.09 per cent, to close at N2, per share.

Prestige Insurance followed with a decline of 8.70 per cent to close at 42k, while Presco Plc declined by 6.15 per cent to close at N120.50, per share.

Jaiz Bank shed six per cent to close at 94k, while Oando depreciated by 4.41 per cent to close at N3.90, per share.

However, the total volume of trades declined by 27.62 per cent to 133.41 million units, valued at N1.81 billion, and exchanged in 3,078 deals.

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Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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