NGX maintains growth trajectory as market cap gains N1.663trn

Trading on the floor of Nigerian Exchange (NGX) on Thursday sustained growth trajectory, appreciating by N1.663 trillion as gains in mid caps and heavyweight stocks impacted positively on the market performance.

As a result Market capitalisation of listed equities grew by 1.23 per cent to N136.435 trillion from N134.772 trillion reported the previous day.

The NGX All Share Index also went by 2583.61 basis points to 211901.02 points from 209317.41 points traded on Wednesday.

The positive growth was driven by gains in the shares of UBA, Dangote Sugar, MTN Nigeria, FirstHoldco, Zenith Bank, Aradel Plc and Access Holdings Company and other 37 companies.

The market breath was positive with 44 gainers against 20 decliners, bringing year to date return to 36.18 per cent.

A review of trading for the day showed that Trans Express and Guinea Insurance led gainers table, gaining 10 per cent each to close at N5.50 and N1.21 per unit, Aradel Plc followed with a gain of 9.99 per cent to close at N1547.50 per share.

Ecobank Transnational Incorporated gained of 9.97 per cent to close at N61.20 per unit, Daar Communications up by 9.93 per cent to close at N1.66 per share.

On the contrary, Ikeja Hotel topped losers chart, dropping by 9.73 per cent to close at N33.40 per unit, Wapic Insurance trailed with a loss of 8.77 per cent to close at N2.60 per unit, Cap Plc down by 8.61 per cent to close at N95.00, International General Insurance fell by 8.18 per cent to close at N3.03 per unit, Mcnichols declined by 5.82 per cent dropped by 5.82 per cent to close at N6.31 per share.

Volume of trades declined by 121.431 million, representing 17.19 per cent as investors traded 584.961 million shares against 706.392 million reported the previous day. The value of transactions dipped by 16.99 per cent settling at N34.758 billion.

Trading in the shares of Zenith Bank led market activities with 61.741 million shares valued at N7.598 billion, United Bank for Africa followed with account of 45.864 million shares valued at N2.112 billion, United Bank for Africa followed with account of 45.864 million shares worth N2.112 billion, Access Holdings Company traded 42.760 million shares cost N1.152 billion, NSLTech traded 38.490 million shares worth N37.544 million, GTCO Plc exchanged 25.263 million shares cost N3.231 billion.