Nigeria: Investors Gain N25bn Amid Rise in Large, Medium-capped Stocks

Equity investors in the Nigerian Exchange Limited has gained N24.92bn at the end of trading on Wednesday amid gains in large capped stocks like MTN Nigeria Plc and Guaranty Trust Holding Company Plc.

The NGX All-Share index appreciated by 0.12 per cent to close at 38,968.34 basis points and a market capitalization of N20.30tn from 38,920.50bps and N20.28tn recorded on Tuesday. Market activity was mixed as trading volumes decreased by 38.11 per cent while the value of shares traded increased by 57.98 per cent.

The number of shares exchanged at the end of trading on the floor of the NGX was 141.40 million shares valued at N2.97bn in 3,079 deals as compared to 228.48 million shares worth N1.88bn traded in 3,376 deals. The NGX Premium and NGX Main Board indices increased by 0.20 per cent and 0.04 per cent respectively at the end of the day.

Analysing by sectors, all indices closed lower except NGX Industrial and Consumer Goods which closed flat. NGX Banking decreased by 0.39 per cent, NGX Oil and Gas fell by 2.00 per cent while NGX Insurance suffered a 1.15 per cent decline. Market sentiment was negative as 14 companies gained compared to 20 losing equities.

UPDC Plc led the gainers’ chart with a 9.64 per cent increase to N1.82 per share. Northern Nigeria Flour Mills Plc followed closely as it rose by 9.59 per cent ending the day at N8.00 per share. Other top gainers on Wednesday were Oando Plc (+6.21 per cent), Learn Africa Plc (+5.88 per cent), and Honeywell Flour Mills Plc (+3.83 per cent).

Atop the losers’ table was Transcorp Hotels Plc which dropped by 10.00 per cent to N4.50 per share. Coming next was Consolidated Hallmark Insurance Plc with a 9.43 per cent decline to close at N0.48 per share. Prestige Assurance Plc, Champion Breweries Plc and Lasaco Assurance Plc also saw losses at the end of trading with -8.33 per cent, -8.17 per cent, and -7.69 per cent declines respectively.