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By Chukwuma Umeorah
The Nigerian Exchange Limited (NGX), on Wednesday, reached an all-time high as the benchmark All-Share Index surpassed the 90,000 mark as bulls continue to dominate the market.
At the close of trading activities on Wednesday, the equities market gained 2.38 per cent, adding 2,092 basis points to close at 90,063.25 basis points, bringing the year-to-date gain to 17.65 per cent. Consequently, investors gained N1.2 trillion.
Yesterday’s gain was primarily driven by price appreciation in large and medium capitalized stocks including Transcorp, Nigerian Brewery, Dangote Sugar, Flourmill, Guiness Nigeria, Wema bank and 41 other stocks.
At the end of Wednesday’s trading session on the local bourse, a total of 1.29 million units of shares corresponding to a market value of 16.381 billion were exchanged 17,471 deals. Compared with the previous NGX trading day, the data shows a 19 per cent improvement in volume, a 2 per cent improvement in turnover, and an 18 per cent improvement in deals. The current market capitalization of the stands at N49.28 trillion.
In the aggregate, 124 equities participated in trading, ending with 47 gainers and 35 losers. Guinness Nigeria led the gainers with 10 per cent share price appreciation closing at N71.50 per share, followed by Honeywell Flour Mill and AIICO which added 10 per cent each to close at N4.84 and N1.54 per share respectively.
Wema Bank and SUNUASSUR also gained 10 per cent each to close the days’ trade at N11.66 and N1.76 per share respectively.
On the losing side, RTBRISCOE was the worst performing stock for the day shedding 10 per cent in value closing at N0.81 per share, followed by DANGSUGAR which lost 9.95 per cent to close at N73.30 per share while NGXGROUP lost 9.84 per cent and closed at N22.90 per share.
Others on the losing side were Redstarex and Sterlingng which lost 9.47 per cent and 9.09 per cent to close at N4.11 and N6.90 per share respectively.
