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NGX sustains rising profile as indices rise further by N53b

By Helen Oji
07 December 2022   |   4:47 am
The Nigerian Exchange Limited (NGX) sustained a rising profile at the end of yesterday’s transactions, occasioned by gains in many blue-chip stocks, especially BUA cement and Ecobank TransNational Incorporated (ETI), as market capitalisation...

NGX Group building

The Nigerian Exchange Limited (NGX) sustained a rising profile at the end of yesterday’s transactions, occasioned by gains in many blue-chip stocks, especially BUA cement and Ecobank TransNational Incorporated (ETI), as market capitalisation increased further by N53 billion.

The All Share Index (ASI) rose by 96.46 points, representing an increase of 0.20 per cent to close at 48,366.69 points. While the overall market capitalisation value gained N53 billion to close at N26.344 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Ecobank TransNational Incorporated (ETI), NASCON Allied Industries, Nigerian Exchange (NGX) and Champion Breweries.

Market sentiment, as measured by market breadth, was positive as 16 stocks gained, relative to 13 decliners. Honeywell Flour Mills recorded the highest price gain of 8.06 per cent to close at N2.28 per share. Champion Breweries followed with a gain 7.14 per cent to close at N3.75, while ETI rose by 4.98 per cent to close at N10.55, per share.

Lasaco Assurance went up by 4.71 per cent to close at 89 kobo, while R.T. Briscoe Nigeria appreciated by 4.00 per cent to close at 26 kobo, per share. Livestock Feeds appreciated by 3.98 per cent to close at N1.11 kobo. BUA cement gained 2.50 per cent to close at N82. Jaiz Bank gained 2.30 kobo to close at 89 kobo. AIICO appreciated by 1.89 per cement to close at 54 kobo. African Prudential garnered 1.82 per cent to close at N5.60 kobo.

On the other hand, UACN Property Development Company (UPDC) led the losers’ chart by 7.07 per cent to close at 92 kobo, per share. Wema Bank followed with a decline of 6.12 per cent to close at N3.22, while FTN Cocoa processors depreciated by 3.33 per cent to close at 29 kobo, per share.

Wapic Insurance declined by 2.63 per cent to close at 37 kobo, while Oando depreciated by 2.50 per cent to close at N3.90, per share. GEREGU lost 2.44 per cent to close at N108 kobo. GTCO shed 1.64 per cent to close at N21.05 kobo. FBN Holdings depreciated by 1.37 per cent to close at N10.80 kobo.

CWG dropped 1.25 per cent to close at 79 kobo. Fidelity Bank shed 120 per cent to close at N4.10 kobo. Sterling Bank also fell by 71 per cent to close N1.39 KOBO.

However, the total volume of trades decreased by 71.16 per cent to 184.657 million units, valued at N3.572 billion, and exchanged in 3,189 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 66.108 million shares valued at N727.029 million.

Transnational Corporation of Nigeria (Transcorp) followed with 36.614 million shares worth N43.450 million, while Geregu Power traded 17.474 million shares valued at N1.754 billion.

Access Holdings traded 7.351 million shares valued at N62.926 million, while R.T. Rriscoe transacted 5.632 million shares worth N1.513 million.

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