NGX: Investors Gain N508bn, ASI Hits 73,000 Mark
Investors on the Nigerian Exchange Ltd. (NGX) gained N508 billion as market performance indices, on Wednesday, continued its positive trends.
The market capitalisation closed at N40.165 trillion, representing an increase of 1.28 per cent, when compared with N39.657 trillion recorded on Tuesday.
Also, the All-Share Index(ASI) crossed the 73,000 mark, as it settled at 73,397.71 points.
The 73, 391.71 showed an increase of 927.61 points or 1.28 per cent, when compared with 72,470.10 posted at the last trading session.
Consequently, the Year-to-Date (YTD) return rose to 43.21 per cent.
The positive performance was as a result of investors’ interests in telecommunication and banking industry.
They are Airtel Africa, and tier-one banks namely: Guarantee Trust Holding Company (GTCO), Access Holdings, First City Monumental Bank (FCMB), United Bank of Africa(UBA) and Transcorp Hotel.
Market activities showed trade turnover settled higher to the previous session, with the value of transactions up by 84.62 per cent.
A total of 554.64 million shares valued at N12.83 billion were exchanged in 7,910 deals.
GTCO led the traders volume and value charts with 89.45 million units traded in deals worth N3.58 billion by 0.76 per cent.
Meanwhile, market breadth closed positive with 36 stocks on the gainers table and 22 on the laggard’s log.
Multiverse led the gainers chart by 10 per cent, to close at N11.55, followed by TransCorp in percentage terms of 10 per cent, to close at N7.70 and Infinity closed at 3.75 by 9.97 per cent.
E-tranzact also gained 9.73 per cent to close at N6.20,while Caverton closed at N1.93 to gain 9.66 per cent.
On the laggard’s table, Tantalizer led with a loss 10 per cent, to close at 45k, followed by Thomaswy by 9.86 per cent, to close at N2.65.
The Initiative Plc (TIP) declined by 9.32 per cent, to close at N1.07, while Juli also lost 9.23 per cent, to close at 59k, while Chams shed 9.05 per cent, to close at N1.81 Naira Devaluation Deepens Economic Crisis in Nigeria
