NGX maintains upward trend by N142bn

The Nigeria Exchange Ltd. (NGX) on Wednesday gained N142 billion or 0.49 per cent as market capitalisation went up to N29.139 trillion from N28.997 trillion on Tuesday.

Also, the All-Share Index (ASI) rose by 261.01 points or 0.49 per cent to 53,499.68 points from the 53,238.67 recorded on Tuesday.

Consequently, the Year-to-Date (YTD) return rose to 4.39 per cent

The positive performance was impacted by gains recorded in medium and large capitalised stocks, amongst which are: NAHCO, NNFM, Nigerian Exchange Group, IMG and Geregu.

Market breadth closed flat as 14 stocks recorded gains relative to 14 losers.

Seplat and Industrial & Medical Glases (IMG) recorded the highest gain of 10 per cent each to close at N1,210 and N7.70, respectively.

Northern Nigeria Flour Mills followed by 9.46 per cent to close at N8.10 per share.

International Energy Insurance rise with a gain 9.33 per cent to close at 82k, while Nigerian Aviation Handling Company garnered 9.26 per cent to close at 37k per share.

On the other hand, Guinness Nigeria led the losers’ chart by 10 per cent, to close at N63 per share.

Ardova followed with a decline of 9.95 per cent to close at N17.20 per share.

Also, Academy Press dropped by 9.85 per cent to close at N1.19, while RT Briscoe declined by 9.68 per cent to close at 28k per share.

Conerstone Insurance declined by 8.33 per cent to close at 55k per share.

However, the total volume traded increased by 30 per cent to 200.37 million shares, worth N5.52 billion, and traded in 3,716 deals.