On Wednesday, investors made a N1.7 billion profit at the end of trading on the Nigerian Exchange’s floor.
The market capitalisation of equities listed on the NGX increased from N26.183tn to N26.185tn, while the NGX All-Share Index increased from 48,568.57 basis points to 48,571.75 basis points.
At the close of trading on Wednesday, eighteen companies had made gains, while 23 companies’ stocks had lost value.
Investors traded 246.7 million shares for N2.32 billion in 5,033 transactions.
Academy and Wema Bank topped the gainers’ list, with share prices rising 9.92% and 9.88% to N1.33 kobo and N3.67 kobo, respectively. Cadbury and UPDC’s share prices gained 9.68% and 9.09% to N8.50 kobo and 0.96 kobo, respectively.
Ikeja Hotels and Lickstock were the biggest losses, with share prices falling 9.68% and 9.50% to N1.40 kobo and N1.62 kobo, respectively. Chi Plc and Union Bank’s share prices declined 9.38% and 6.250% to 58 kobo and N6.00 kobo, respectively.
“For the most of today’s session, the Nigerian stocks market traded quietly; nevertheless, gains registered in BUACEMENT (+1.0%) and Guiness (+7.5%) assured the market closed higher amid profit-taking on some banking names,” according to Cordros Capital research.
As a result, the All-Share Index rose 1 basis point to 48,571.75 points, with month-to-date and year-to-date gains of +3.4 percent and +13.7 percent, respectively.”
“The Consumer Goods (+0.7%) and Industrial Goods (+0.4%) indexes posted advances, while the banking (-1.5%), insurance (-0.9%), and oil & gas (-0.7%) indices decreased,” it stated.
