NGX Trading Closes Big as 16 Investors Lift Market Cap by N63bn

The Nigerian Exchange Limited investors at the close of trading on Wednesday lifted the market capitalisation by N63bn.

Transcorp recorded gain of (+5.41 per cent), BUA Cement (+2.23), Flour Mill (+0.47 per cent) and other 15 gainers.

Both the market cap and the All-Share Index rose by 0.17 per cent to close at 67,100.49 and N38.864tn respectively as the year-to-date returns settled at 32.06 per cent.

Over 410.32m units of shares worth N4.46bn were exchanged on the platform of the NGX in 5,637 deals. This indicated that while the volume of traded shares rose by about 59 per cent, the value of the shares dropped by 42.86 per cent compared to the previous day’s trading.

Based on market sentiments, the bulls edged the bears by one as there were 18 gainers at the end of the trading week compared to 17 losers.

Paper production company, Thomas Wyatt, led the gainers table with a 9.81 per cent gain to close at N2.35. Indigenous conglomerate, Transcorp closed trading at N6.43 per share, Union Bank of Nigeria’s shares gained 5.30 per cent to close at N6.95, United Bank for Africa appreciated by 0.58 per cent to close at N17.25 and Flour Mills of Nigeria closed at N32.40.

Flour Mills on Wednesday announced a final dividend of N2.25k per share of 50 Kobo to shareholders for the period ended March 31, 2023.