Equity Market sustains bullish trend
Nigeria’s equities market closed positive on Wednesday, as the NGX-ASI increased to 98,230.92 from 97,685.64 recorded at the close of the previous trading day; indicating a YTD return of +29.27%.
Market capitalization increased by N444.94 billion to N56.446 trillion from N56.001 trillion recorded at the close of the previous trading day. However, the market turnover increased to N7.566 billion from N6.467 billion.
At the end of today’s trading session on the Nigerian Stock Exchange (NGX), a total of 361,302,533 shares in 9,627 deals, corresponding to a market value of NGN 7,566,540,873.24, were traded.
Compared with the previous NGX trading day (Tuesday, September 17), today’s data shows 23% decline in volume, 19% decline in turnover, and 20% decline in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 56.5 trillion.
In the aggregate, 121 NGX listed equities participated in trading, ending with 28 gainers and 26 losers. Skye Shelter Fund led the gainers with 9.99% share price appreciation closing at NGN 179.45 per share, followed by Honeywell Flour Mill (+9.96%), Meyer (+9.95%) and Academy Press (+9.89%).
On the losing side, Northern Nigeria Flour Mills came out last with an end-of-day price depreciation of 10% at NGN 39.15 per share, followed by Berger Paints (-9.81%), Deap Capital Management & Trust (-9.68%) and Livestock Feeds (-9.09%). Japaul Gold and Ventures recorded the highest volume of 64 million traded shares, followed by FBN Holdings (26.7m), United Bank for Africa (25.7m) and UPDC (18.2m).
