NGX Closes Positive, Market Cap Gains N248bn

Posted by African Examiner Business News, Latest Headlines Friday, September 13th, 2024

(AFRICAN EXAMINER) – The Nigerian Exchange Ltd.(NGX) market capitalisation, on Friday, closed positive with N248 billion gain.

Specifically, the market capitalisation added N248 billion or 0.44 per cent to its opening of N55.754 trillion to close at N56.002 trillion.

The All-Share Index also gained 0.44 per cent or 432 points to close at 97,456.62 points, against 97,025.17 points reported on Thursday.

As a result, the Year-To-Date(YTD) return increased by 30.34 per cent.

Investors interest in Guaranty Trust Holding Company (GTCO), Zenith Bank, FBN Holdings, Access Corporation, Fidelity Bank, as well as Transnational Corporation, Nigerian Breweries,.among other advanced stocks lifted the market up.

The market breadth also closed positive with 33 gainers outnumbering 20 losers on the floor of the Exchange.

Flour Mill led the gainers’ chart by 9.99 per cent to close at N54.50, Caverton followed by 9.96 per cent to close at N2.54 per share.

Ecobank Transnational Incorporated gained 9.95 per cent to close at N23.75, RT Briscoe advanced by 9.94 per cent to close at N3.65 and UPDC went up by 9.88 per cent to close at N1.78 per share.

Conversely, Daar Communications led the losers’ chart by 9.72 per cent to close at 65k,Deap Capital Management and Trust Plc trailed by 8.82 per cent to close at 93k per share.

PZ also lost 8.48 per cent to close at N15.65, Custodian dropped 8.45 per cent to close at N13, while McNichols decreased by 8.44 per cent to close at N1.41 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 18.90 per cent.

A total of 412.90 million shares valued at N6.47 billion were exchanged in 8,803 deals, in contrast to 390.55 million shares valued at N7.97 billion traded in 9,615 deals posted in the previous session.

Meanwhile, Japaul Gold led the activity chart in volume with 105.65 million shares, while FBN Holdings led in value of deals worth N1.24 billion.(NAN)