The market capitalization of the Nigerian Exchange Limited (NGX) increased by N532 billion yesterday thanks to rises in the shares of several well-capitalized companies, particularly Airtel Africa and Nestle.
To be more precise, yesterday’s trading ended with the All Share Index (ASI) up 986.63 points, or 2.03 percent, to close at 49,661.87 points. As a result, investors made N532 billion in profit as the market valuation increased to N26.786 trillion.
Gains in medium- and large-capitalized firms, including Airtel Africa, Nestle Nigeria, BUA Foods, Nigerian Exchange Group (NGXGroup), and Learn Africa, had an impact on the recovery.
Chams gained 8% to settle at 27 kobos, while Multiverse Mining and Exploration and Caverton Offshore Support Group both increased by 9.52 percent to close at N2.30 and N1.15 kobo, respectively.
Lasaco Assurance gained 6.32 percent to settle at N1.01 kobo, while Airtel Africa increased 7.06 percent to close at N2,040. Oando gained 4.17 percent to end the day at N5. To settle at N55.80 kobo, BUA Foods gained 3.33 percent. Additionally, NEM assurance rose by 3.31 percent to settle at N5.
Conversely, Mutual Benefits Assurance closed at 28 kobos and was in first place on the losers’ chart by 9.68%. Following closely behind, Honeywell Flour Mills dropped 8.42% to settle at N2.72 kobo, while Flour Mills of Nigeria dropped 7.06% to close at N27.
While FCMB Group lost 3.51 percent to settle at N3.02 kobo, Unity Bank lost 4.76 percent to close at 40 kobos. To close at N3.02 kobo, First City Monument Bank suffered a 3.51 percent loss.
To end the day at 29 kobos, FTN Cocoa lost 3.33%. To end the day at 39 kobos, Wapic Insurance saw a 2.50 percent decline. To close at 85 kobos, Jaiz Bank decreased by 2.30 percent. Champion Breweries shed 1.28 percent to close at N3.85 kobo. GTCO also dropped 75 percent to close at N19.95 kobo.
Total volume traded increased by 32.15 percent to 226.473 million shares, worth N2.764 billion, and traded in 3,515 deals. Transactions in the shares of Mutual Benefits Assurance topped the activity chart with 74.544 million shares valued at N22.838 million.
Access Holdings traded 15.845 million shares valued at N130.192 million, while FBN Holdings exchanged 23.429 million shares worth N251.880 million.
15.253 million shares of the United Bank for Africa (UBA) were traded for N107.071 million, while 13.485 million shares of NEM Insurance were exchanged for N62.124 million.