As the all-share index (ASI) passed the 50,000 threshold yesterday, the Nigerian Exchange Limited (NGX) maintained its Santa Claus surge.
The ASI increased by 365.4 absolute points, or 0.7 percent, to close at 50,300 points at the end of trading.
As a result, the market capitalization increased to N27.397 trillion, increasing investor wealth by N199 billion in value.
Gains in medium- and large-capitalized firms, including Nestle Nigeria, Seplat Energy, Geregu Power, Nigerian Breweries, and Julius Berger, had an impact on the recovery.
Vetiva Dealings and Brokerage analysts stated: “We anticipate an impressive finish to the week and year in tomorrow’s session, with positive closes across the sectoral indices amid pockets of profit-taking activity.”
Market sentiment was upbeat as evidenced by the market breadth indicator, with 37 equities rising relative to nine declining ones. With price increases of 10% apiece, Nestle Nigeria and Geregu Power closed at N1, 100 and N139.7, respectively, while McNichols came in second place with a gain of 9.62% to close at 57 kobo.
Royal Exchange likewise increased by 9.35% to close at N1.17 kobo, while Computer Warehouse Group increased by 9.52% to close at 92 kobo.
Conversely, Livestock Feeds, which closed at N1.09 per share, topped the losers’ column by 8.4%. Vitafoam Nigeria dropped by 5.92 percent to settle at N20.65, and FBN Holdings (FBNH) fell 6.36 percent to close at N11.05 kobo.
Fidelity Bank lost 1.94 percent to settle at N4.56 kobo, while Unilever Nigeria lost 2.54% to close at N11.5.
With 4,480 transactions, the total volume traded fell by 40.3% to 490.484 million units, worth N7.748 billion.
With 271.364 million shares changing hands for N3.202 billion, transactions in FBNH shares topped the list of activity. Zenith Bank traded 19.642 million shares valued at N486.572 million, followed by Guaranty Trust Holding Company (GTCO) with 38.53 million shares worth N922.553 million.
Consolidated Hallmark Insurance traded 13.924 million shares for N9.093 million, while AIICO Insurance traded 17.472 million shares worth N9.97 million.
