At over 91,000 Basis Points, NGX All Share Index Hits All-time High  

At over 91,000 Basis Points, NGX All Share Index Hits All-time High  

Kayode Tokede

After crossing the 90,000 basis points this week, the Nigerian Exchange Limited (NGX) major index crossed another all-time high yesterday, reaching over 91,000 basis points as the stock market recorded its fourth consecutive gain.

The NGX All Share Index (ASI) rose by 1,833.72 basis points or 2.04 per cent to close at 91,896.97 basis points from 90,063.25 basis points, bringing the stock market Year-till-Date growth to 22.90per cent.

Consequently, the overall market capitalisation yesterday also appreciated by N1.01 trillion to close at N50.290 trillion from N49.284 trillion it closed the previous day.

Investors buying interest in Dangote Cement Plc, BUA Cement Plc, MTN Nigeria Communication Plc and Dangote Sugar Refinery Plc lifted the stock market.

As Dangote Cement appreciated by 8.27per cent to close at N489.90 per share, BUA Cement rose by 8.96per cent to close at N135 per share. MTN Nigeria and Dangote Sugar Refiner increased by 0.03per cent and 4.37per cent to close at N288.10 and N76.50 per share, respectively.

Analysing by sectors, the NGX Industrial Goods Index gained 7.8per cent, NGX Oil & Gas Index added 2.7per cent, and NGX Consumer Goods Index appreciated by 0.9per cent, while the NGX Insurance Index dropped by 2.1per cent and NGX Banking Index dipped by 1.9 per cent.

The stock market breadth closed negative as 34 stocks gained relative to 42 losers.

The likes of Conoil Plc, Eterna Plc, JohnHolt Plc, NEM Insurance Plc, and Unity Bank Plc appreciated by 10 per cent each to close at N112.20, N20.90, N2.53, N8.25 and N3.30, respectively.

 Also, PZ Cussons Nigeria Plc and May & Bakers gained 9.96 per cent to close at N39.20 and N7.51 per share, respectively.

Among the top gainers was Mcnichols that gained 9.94 per cent to close at N1.77per share as Abbey Mortgage Bank Plc grew by 9.93 per cent to close at N2.99 per share.

On the losers chat was  Ikeja Hotel Plc that depreciated by 9.79 per cent to N8.11per share, Royal Exchange that dipped by 9.78 per cent to N0.83 per share and Mutual Benefit that dropped by 9.57 per cent to close at N0.85 per share.

Linkage Assurance Plc dropped by 9.40 per cent to close at N1.35 per share as Japaulgold declined by 9.33 per cent to close yesterday at N2.43 per share.

The total volume of trades stood at 1,140,376,336 units, valued at N19.29 billion, and exchanged in 17,804deals.

The total volume traded declined by 12.2 per cent to 1.14 billion units, valued at N19.29 billion, and exchanged in 17,804 deals.

Transcorp was the most traded stock by volume and value at 156.62 million units and N2.96 billion, respectively.

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