The Nigerian Exchange Limited, NGX, on Wednesday sustained an upward trend as investors made a profit N422 billion from the three days trading with market capitalisation surging to N35.844 trillion from N35.422 trillion closed last week Friday.
This surge propelled the market capitalization from N35.422 trillion at the close of trading on the previous Friday to N35.844 trillion. Similarly, the NSE All Share Index (ASI) saw a 1.2% increase, ending at 65,492.92 points, up from the previous Friday’s 64,721.09 points.
Transcorp and Dangote sugar drive slight pptick in NGX trading
A closer look at the trading activity indicated that the market experienced a slight uptick, primarily driven by increased interest in Transcorp, leading to a 9.0% rise, and Dangote Sugar, which gained 7.0%.
These movements contributed to a one base point expansion in the All-Share Index.
The Month-to-Date and Year-to-Date returns stood at 1.8% and 27.8%, respectively. Trading volume decreased by 1.8% to 348.32 million units, valued at N4.05 billion, conducted in 6,237 deals.
Transcorp emerged as the most traded stock both in terms of volume (144.71 million units) and value (N682.61 million).
Among the sectors, the Consumer Goods Index and Insurance Index rose by 0.4% each, while the Oil & Gas Index declined by 1.7% and the Banking Index by 0.7%. The Industrial Goods Index remained unchanged.
In terms of individual companies, 26 recorded gains compared to 22 that experienced losses. Conoil led the decliners with a 10.0% loss, followed by DAAR Communications with a 9.4% decrease.
On the positive side, ABC Transport was the top gainer with a 9.6% increase, closely followed by Thomas Wyatt with a 9.3% gain.