Banking, Industrial Stocks Drive Gains As investors Earn N25bn

NSE-Brand Spur Nigeria

The Nigerian Exchange Limited equities market gained N25.29bn in capitalization at the end of trading on Wednesday as the banking and industrial indices rose.

The NGX All-Share index and the market capitalization of stocks both increased by 0.12 per cent closing at 40765.20 basis points and N21.24tn respectively, from 40,416.66bps and N21.22tn recorded the previous day.

Investor activity fell short of Tuesday’s tally as the volume of shares traded on the floor of the exchange dropped by 7.47 per cent from 432.99 million shares valued at N3.13bn in 4,377 deals to 400.65 million shares worth N3.48bn in 5,145 deals.

FBN Holdings Plc outperformed the traded stocks in terms of volume, accounting for 27.14 per cent of the total volume of trades, followed by Transnational Corporation of Nigeria Plc (9.9 per cent) and Ecobank Transnational Incorporated (8.18 per cent) to complete the top three on the volume chart.

Banking, Industrial Stocks Drive Gains As investors Earn N25bn

Also, FBN Holdings was the most traded stock in value terms, accounting for 30.83 per cent of the total value of trades on the exchange.

The NGX Banking index rose from 380.17bps to 380.38bps just as the NGX Industrial index increased to 2089.84bps from 2088.83bps.

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FBN Holdings Plc led 20 gainers with a 7.78 per cent appreciation to close at N9.70 per share, followed by University Press Plc with a 7.38 per cent increase, ending at N9.70 per share.

Other top gainers were Northern Nigeria Flour Mills Plc (+6.49 per cent), Livestock Feeds Plc (+5.38per cent) and Universal Insurance Plc (+5.00 per cent).

Pharma-Deko Plc saw the highest loss as its share price dropped by 6.01 per cent, ending at N2.66 per share. Other top losers were Associated Bus Company Plc, Regency Alliance Insurance Plc and Chams Plc.