Stock Market Gains N41bn As Trading Volume Rises By 95%

The market capitalisation of equities in the Nigerian Exchange Limited rose by N41.06bn on Thursday as investors’ trading volume jumped by 94.79 per cent.

The NGX All-Share index appreciated by 0.19 per cent from 41,051.19 basis points to close at N41,129.98bps on Wednesday, while the market cap increased from N21.39tn to N21.43tn.

The volume of shares traded on the floor of the exchange rose to 908.06 million shares worth N10.97tn in 5,151 deals from 466.17 million valued at N4.47bn in 4,704 deals the previous day.

Analysing by sectors, the NGX Industrial and NGX Consumer Goods indices traded higher by 0.15 per cent and 0.17 per cent respectively, while the NGX Banking, Oil and Gas and Insurance indices declined. The NGX Premium index rose by 0.3 per cent while the Main-Board stocks dropped by 0.08 per cent.

Market sentiment, as measured by market breadth, was positive as 21 tickers gained as against 15 losers.

Champion Breweries Plc led the gainers with a 9.71 per cent rise in its share price, closing at N3.05.

It was followed by Africa Prudential Plc came as its share price increased by 7.81 per cent to close at N6.90. Other top gainers were FBN Holdings Plc (7.31 per cent), Universal Insurance Plc (4.76 per cent), and Chams (4.35 per cent).

Atop the losers’ chart was Learn Africa Plc as its share price slumped by 10 per cent, closing at N1.26.

Ecobank Transnational Incorporated, Coronation Insurance Plc and Linkage Assurance Plc also recorded losses of 8.16 per cent, six per cent and five per cent respectively.