Investors gain N1.15trn, thanks to Geregu Power, Dangote Cement, BUA Cement

The All-Share Index, one of the performance indices of the Nigerian Exchange Ltd. (NGX), on Wednesday, January 17, 2024, crossed a 90,000 benchmark, appreciating by 2.37 per cent.

Specifically, the All Share Index rose by 2,92.15 or 2.37 per cent to close at 90,063.25 against 87,971.10 points on Tuesday.

Also, the market capitalisation which opened at N48.139 trillion rose by N1.145 trillion to close at N49.139 trillion.

The Year-To-Date (YTD) return rose to 20.45 per cent.

Consequently, a total of 1.30 billion shares valued at N16.38 billion were exchanged in 17,471 deals.

Market breadth closed positive, with 44 advancing equities outnumbering 35 declining ones.

However, investors’ sustained buy interests in stocks of Dangote Cement, BUA Cement and Geregu Power Plc. kept the market in a positive terrain.

Transactions in the shares of Sterling Bank topped the activity chart, accounting 106.14 million shares valued at N800.25 million.

JapaulGold followed by selling 101.12 million shares worth N268.8 million.

Also, Transcorp transacted 90.47 million shares valued at N1.58 billion, while Jaiz Bank sold 83.12 billion shares valued at N321.17 million.

Unity Bank, which traded 73.41 million shares valued at N237.66 million.

On the gainers’ table, Guinness, Hony Flour, AIICO Insurance, Wema Bank and SUNU Assurances led in per cent terms of 10 each to close at N71.50, N4.84, N1.54, N11.66 and N1.76 per share, respectively.

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Conversely, RTBRISCOE led the loser’s table in percentage terms of 10 to close at 81k per share.

Dangote Sugar followed by 9.95 per cent to close at N73.30, while NGX Group trailed by 9.84 per cent to close at N22.90 per share.

Also, Redstarex lost 9.47 per cent, to close at N4.11, while Sterling Bank shed 9.09 per cent to close at N6.90 per share.

However, analysis of the market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 3.89 per cent.

The Star