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  • Business - Economy
  • Updated: January 24, 2024

NGX: Turnover rises 12.97%, investors gain N1.56 trillion

 NGX: Turnover rises 12.97%, investors gain N1.56 trillion

The domestic bourse on Tuesday appreciated further, making the market turnover on the Nigerian Exchange Ltd. (NGX) rise by 12.97 per cent.

According to the News Agency of Nigeria, market activities showed that 747.51 million shares valued at N16.28 billion were exchanged in 16,589 deals.

As a result, the All-Share Index rose by 2,848.85 points or 2.97 per cent to close at 98,616.97, as against 95,768.12 posted on Monday. The Year-To-Date (YTD) return also rose to 31.89 per cent.

Market capitalisation gained N1.56 trillion or 2.97 per cent to close at N53.967 trillion, compared with N52.408 trillion recorded on Monday.

Meanwhile, sustained buy interests in the equities of industrial heavyweights Dangote Cement, BUA Cement and Seplat, and others drove the market’s strong performance.

On the activity chart, Transcorp led in volume with 77.71 million shares worth N1.29 billion, while Sterling Nigeria traded 72.31 million shares valued at 485.73 million.

United Bank of Nigeria (UBA) sold 52.99 million shares, traded at N1.57 billion, while Access Holdings garnered  47.16 million shares valued at N1.35 billion. Also, Zenith Bank traded 32.02 million units valued at N1.34 billion.

On the advancers’ table, BUA Cement and Seplat led in percentage terms of 10 each to close at N163.35 and N2795.10 per share, respectively.

Dangote Cement followed by 9.99 per cent to close at N651.80, while Eterna Plc gained 9.92 per cent to close at N27.70. Meyer Plc grew by 9.88 per cent to close at N3.56 per share.

Conversely, May & Baker Nigeria, Deap Capital Management & Trust, John Holt Plc, Mutual Benefits, and The Initiative Plc led with a loss of 10 per cent each to close at N7.38, 81k, N2.70, 72k and N2.52 per share, respectively.

However,  market breadth closed negative as 50 equities traded on the laggard’s table while 17 others traded on the gainers.

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