Investors Gain N167Bn, As Bulls Sustain Hold On NGX

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Trading on the Nigerian Exchange (NGX) floor maintained a bullish trend for the third consecutive day this week on Wednesday amid bullish bargaining with investors gaining N167 billion, thereby driving up the broad market performance

Available data from the Nigerian Exchange Group (NGX), the market’s supervisory entity, showed that the All-Share Index (ASI) grew by 0.58% to close at 52,927.60 index points compared to 52,621.19 index points it recorded in the previous day’s trading session.

Also, the market capitalization of equities appreciated by N167 billion to close at N28.819 trillion, representing 0.58% gain compared to the N28.652 trillion it recorded at the end of Tuesday’s trading session.

The NGX data reflected that the market breadth closed positive as NESTLE Plc led the gainers with 9.98% surge in share value, while CHELLARAM Plc with -9.82% depreciation in share price led the losers’ table.

The market indices showed that the volume of traded stocks totaled 455.18 million with a market value of N7.83 billion transacted in 6,635 deals.

The data also indicated that at the end of the day’s session, NESTLE topped the gainer’s table with 9.98% gain to close at N1148.00 per share; TRIPPLEG gained 9.88% to close at N3.56 per share; UACN gained 9.76% to close at N9.00 per share; UPL gained 9.76% to close at N2.25 per share; and RTBRISCOE gained 9.68% to close at N0.34 per share

Conversely, the NGX indices further reflected that the top five ASI losers comprised CHELLARAM- down by -9.82% to close at N1.47 per share; MCNICHOLS –dropped by -9.59% to close at N0.66 per share; WAPIC, which was down by -8.70% to close at N0.42 per share; ACADEMY, whose share price was down by -7.14% to close at N1.56 per share; and CUTIX, which also was down by -3.23% to close at N2.40 per share

The three top traded stocks by volume were ACCESSCORP: 69,187,890; UBA: 66,493,347; and ZENITHBANK: 37,547,796; while the top three traded by value were ZENITHBANK: N1,004,774,360; GTCO N848,306,662; and ACCESSCORP N755,724,938

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