NGX All-Share Index Records 2.04% Surge

The nation’s stock market continued its upward trajectory on Wednesday, as the All-Share Index climbed by 2.04 percent or 1,546.77 points, settling at 77,537.57 basis points, up from Tuesday’s 75,990.88.

Consequently, the Nigerian Exchange Ltd (NGX) market capitalisation increased by N846 billion to close at N42.429 trillion, compared to the previous N41.583 trillion, resulting in a Year-To-Date (YTD) return of 3.70 percent.

This remarkable progress was propelled by gains in Tier-one banks such as Zenith Bank, Guaranty Trust Company (GTCO), and StanbicIBTC.

In the day’s trading session, a total of 927.56 million shares valued at N10.69 billion were traded across 11,629 deals. Fidelity Bank led the volume chart with 108.11 million units traded, while United Bank of Africa (UBA) led the value chart with deals worth N1.54 billion.

Among the 121 NGX-listed equities involved in trading, there were 78 gainers and seven losers.

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Dangote Sugar Refinery spearheaded the gainers chart with a 10 percent increase to close at N63.25 per share. Following closely were United Bank for Africa (UBA) and Berger Paints, both recording a 10 percent share price increase to close at N28.60 and N14.30 per share, respectively.

Custodian Insurance and FCMB also recorded a 10 percent share price increase each to close at N9.90 and N8.25 per share, respectively.

On the flip side, Learn Africa experienced a depreciation of 9.09 percent, closing at N2.90 per share, while Champion Breweries trailed with a 7.32 percent loss, closing at N3.80 per share.

CILeasing lost 2.33 percent to close at N5.03 per share, Nigerian Exchange Group fell by 1.7 percent to close at N23.10 per share, and Ellahlakes depreciated by 1.64 percent to close at N3.00 per share.

(NAN)