NGX Soars: 1.92% Surge, Investors Gain N874 Billion - Green White Green - gwg.ng

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NGX Soars: 1.92% Surge, Investors Gain N874 Billion

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Trading on the Nigerian Exchange Ltd. (NGX) commenced positively on Monday, witnessing a robust 1.92 percent or 1,597.93 points surge in the All-Share Index. The All-Share Index closed at 84,640.89, a notable increase from the previous session’s 83,042.96.

Investors experienced gains of N874 billion, contributing to a 1.92 percent growth in market capitalization, which closed at N46.316 trillion compared to N45.442 trillion on Friday. This positive momentum resulted in a Year-To-Date (YTD) return of 13.20 percent. The market breadth reflected a positive outlook, with 46 equities on the gainer’s table and 19 on the loser’s.

Key industrial stocks, including Dangote Cement, BUA Cement, and Zenith Bank, witnessed increased market shares, contributing to the positive performance. A total of 807.51 million shares valued at N11.03 billion were exchanged in 13,647 deals, surpassing the previous trade session where 600.63 million shares valued at N9.10 billion were traded in 11,697 deals.

Transcorp led the activity chart in volume, trading 66.89 million shares worth N956 million, followed by AIICO Insurance with 62.29 million shares valued at N789.89 million. Wema Bank, Jaiz Bank, and First City Monument Bank (FCMB) also recorded substantial share transactions.

On the gainer’s chart, notable performers included Chams, Axa Mansard, PZ, Tantalizer, and Daar Communications, each registering a 10 percent increase in value. Conversely, Abbey Mortgage Bank Plc led the loser’s chart with a 9.52 percent decline, followed by Julius Berger, Custodian Insurance, Africa Prudential Plc, and FBNH, each experiencing varying degrees of decrease.

The market breadth remained positive, with 66 advancing equities outnumbering eight declining ones. Analysis of market activities indicated a lower trade turnover relative to the previous session, accompanied by a 36.88 percent decrease in the value of transactions. This trading day showcased a mix of gainers and losers, reflecting the dynamic nature of the Nigerian stock market.

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