NGX Sustains Bullish Pattern as Buyers  Achieve N167bn

The Nigerian fairness market recorded N167bn achieve on Wednesday buoyed by AustinLaz & Firm, Tantalizers, Wapco, and different gainers.

The All-Share Index and market capitalisation rose by 0.26 per cent, to shut at 98,227.50 factors N59.5tn respectively.

This introduced the market’s year-to-date achieve to 31.37 per cent, regardless of a 0.72 per cent loss over the previous 4 weeks.

The day’s buying and selling noticed a rise in exercise, with a complete of 370,517,716 shares traded throughout 10,026 offers, reflecting an 11 per cent enchancment in quantity, 32 per cent enchancment in turnover, and a 9 per cent enchancment within the variety of offers in comparison with Tuesday.

Moreover, the overall market turnover amounted to N8.44bn.

Among the many day’s prime gainers had been AustinLaz & Firm, which surged by 10 per cent to shut at N2.20 per share, adopted by Tantalizer, which additionally gained 10 per cent, closing at N0.99 per share. Lafarge WAPCO rose by 9.98 per cent, closing at N55.65 per share, and Honeywell Flour Mill gained 9.95 per cent, closing at N4.53 per share.

Different notable gainers included Eunicsell, which elevated by 9.94 per cent to shut at N15.93, and Cadbury Nigeria, which gained 9.92 per cent, closing at N19.40 per share.

On the dropping aspect, Northern Nigeria Flour Mills led the decliners with a ten per cent drop, closing at N33.75 per share, adopted by RT Briscoe, which additionally dropped by 10 per cent, closing at N1.71 per share. Multiverse Mining & Exploration fell by 9.43 per cent to shut at N1.15 per share, and Daar Communications declined by 7.46 per cent, closing at N0.61 per share.

The efficiency of change market indices was additionally constructive, with a number of indices recording good points. The Shopper Items Index rose by 1.09 per cent, the Insurance coverage Index gained 0.78 per cent, and the Industrial Index additionally noticed a rise of 0.78 per cent. The Premium Index and the Pension Index elevated by 0.56 per cent and 0.45 per cent, respectively.

By way of quantity, Haldane McCall Plc recorded the very best quantity with 39.6 million shares traded, adopted by Entry Holdings with 23 million shares, United Financial institution for Africa with 22.5 million shares, and Lafarge WAPCO with 19.1 million shares.

On Tuesday, the Nigerian fairness market closed on a constructive be aware on Tuesday, as key shares, led by Lafarge WAPCO, lifted the market to N136bn achieve. The market capitalisation of the Nigerian Inventory Alternate elevated by 0.23 per cent to shut at N59.4tn, whereas a complete of 333,948,810 shares had been traded in 9,187 offers, with a market turnover of N6.42bn.