Transactions on the trading floor of the Nigerian Exchange Limited (NGX) yesterday finished in an enthusiastic manner as market capitalization increased by N73 billion as a result of resumed bargain hunting in BUA cement and NASCON.
The market capitalization value increased by N73 billion to settle at N26.682 trillion, while the All Share Index (ASI) increased by 134.50 points, or 0.28 percent, to close at 48,988.04 points.
Gains in medium- and large-capitalized firms, including BUA Cement, NASON Allied Industries, Red Star Express, United Capital, and Nigerian Aviation Handling Company, had an impact on the recovery (NAHCO).
Market sentiment, as indicated by market breadth, was upbeat as 16 stocks increased in value compared to 12 declining ones.
Vetiva Dealing and Brokerage analysts stated: “This week the banking and industrial sectors have remained in the green, while the former continue to keep activity level up. However, barring any large volume trades tomorrow, we expect another quiet session.”
Red Star Express experienced the greatest price increase, rising 9.71% to settle at N2.26 per share. Following Chams, which increased by 9.52% to close at 23 kobo, SCOA increased by 8.97% to close at 85 kobo per share.
While Lasaco Assurance increased by 7.14 percent to close at 90 kobo per share, Learn Africa increased by 8.84 percent to close at N1.97.
While National Salt Company of Nigeria (NASCON) increased by 4.31 percent to close at N10.90 kobo, livestock increased by 4.50 percent to settle at N1.16 kobo.
In order to close at N97.75 kobo, BUA cement increased by 2.89 percent. Wapic increased 2.7% to close at 38 kobo. The value of Nigerian Aviation Handling Company (NAHCO) increased by 2.70 percent to N5.85 kobo at the close. Additionally, Unity Bank gained 2.04% to finish at 50 kobo.
Prestige Assurance, on the other hand, topped the losers’ chart by 8.70% to settle at 42 kobo per share. The next stock to close, Multiverse Mining and Exploration, fell 8.51 percent to N3.98 kobo.
Linkage Assurance lost 6.98% of its value to finish the day at 40 kobo per share.
Dangote Sugar Refinery lost 5.56 percent of its value to settle at N15.30 per share, while Eterna lost 5.75 percent to close at N6.07 per share.
To close at N15.30 kobo, Dangote Sugar lost 5.56 percent of its value. Cornerstone Insurance lost 4% of its value in order to finish at 48 kobo. CWG decreased 2.53% to finish at 77 kobo. NGX Group decreased 2.04% to settle at N24. AccessCorp likewise had a loss of 59%, closing at N8.45 kobo.
But there were only 2,832 trades totaling 88.039 million units for N1.676 billion, a 45.95% drop in the total volume of trades. Guaranty Trust Holding Company (GTCO) share transactions, totaling 10.214 million shares valued at N213.647 million, topped the list of activities.
Jaiz Bank traded 7.911 million shares valued at N7.023 million, while Zenith Bank exchanged 9.787 million shares worth N225.271 million.
United Capital traded 4.471 million shares worth N61.571 million, while Sterling Bank traded 5.167 million shares worth N7.089 million.