July 22, 2024
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The Nigerian Exchange Limited (NGX) extended gains for the third consecutive session yesterday, as buying interest in Dangote Sugar Refinery Plc and 30 others lifted overall capitalisation further by N246 billion.

  The All-Share Index (ASI) gained 435.00 points, representing a gain of 0.44 per cent to close at 98,818.04 points. Also, market capitalisation rose by N246 billion to close at N55.900 trillion.

   The positive performance was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Sugar Refinery, NASCON Allied Industries, Nigerian Exchange Group, Zenith Bank and FBN Holdings (FBNH).

   Market breadth closed positive as 31 stocks gained relative to 15 losers. Abbey Mortgage Bank emerged the highest price gainer of 9.76 per cent to close at N2.70 kobo. NASCON Allied Industries followed with a gain of 9.66 per cent to close at N40.85 kobo, while FCMB Group rose by 9.63 per cent to close at N7.40 kobo.

   International Breweries increased by 9.59 per cent to close at N4, while Dangote Sugar Refinery added 9.56 per cent to close at N47. Caverton appreciated by 8.73 per cent to close at N1.37 kobo. Oando rose by 7.54 per cent to close at N10.70 kobo. NGX Group increased by 7.01 per cent to close at N23.65 kobo.

  Livestock added 6.92 per cent to close at N1.70 kobo. Universal Insurance garnered 6.06 per cent to close at 35 kobo. Ella Lakes improved by 5.67 per cent to close at N3.17 kobo. Prestige Assurance also gained 5.36 per cent to close at 59 kobo.

    On the other side, International Energy Insurance led the losers’ chart with 9.68 per cent to close at N1.40 kobo. Jaiz Bank followed with a decline of 6.52 per cent to close at N2.15 kobo.

Tantalizer shed 6.00 per cent to close at 47 kobo. NPF Microfinance Bank depreciated by 5.88 per cent to close at N1.60 kobo, while Fidson Healthcare down by 5.40 per cent to close at N14.90 kobo.

    Omatek shed 4.84 per cent to close at 59 kobo. Guinea Insurance dropped 3.23 per cent to close at 30 kobo. Deap capital fell by 2.50 per cent to close at 39 kobo. Cutix lost 1.52 per cent to close at N3.25 kobo. Nigerian Breweries also depreciated by 1.49 per cent to close at N26.50 kobo.

  Vetiva Dealings and Brokerage, said: “We anticipate a cooling of buy-side interest in tomorrow’s session, as such we expect the market to trade in a mixed manner on Thursday (today).

The total volume traded declined by 7.3 per cent to 518.948 million units, valued at N4.767 billion, and exchanged in 7,781 deals. Transactions in the shares of Abbey Mortgage Bank led the activity with 230.346 million shares worth N621.912 million.

  Access Holdings followed with account of 80.993 million shares valued at N1.392 billion, while United Bank for Africa (UBA) traded 23.901 million shares valued at N541.687 million.

  FCMB Group traded 18.657 million shares worth N133.164 million, while Fidelity Bank traded 16.379 million shares worth N154.845 million.

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