NGX Extends Bullish Run, Indices Up 0.46% 


The Nigerian Exchange (NGX) on Wednesday extended its bullish trend with market capitalisation rising by N125 billion or 0.46 per cent to close at N27.198 trillion from N27.073 on Friday. 

Also, the All-Share Index (ASI) gained 228.51 points or 0.46 per cent to settle at 49,934.60 as against 49,706.09 posted at the last trading. 

The positive performance was driven by gains recorded in the stocks of Nestle, Geregu and Guranty Trust Holding Company (GTCO). 

As a result, the year-to-date (YTD) return rose to 16.84 per cent. 

Market breadth closed positive as 22 stocks advanced, while four others declined. 


A breakdown of price movement showed that Conerstone Insurance and Champion Breweries topped the gainers’ table with a gain of 10 per cent each to close at 55k and N5.17 per share respectively. 

Geregu Power trailed with a gain of 9.96 per cent to close at N127, while Wema Bank rose by 9.94 per cent to close at N3.54k per share. 

Thomas Wyatt Nigeria was up by 9.88 per cent to close at 89k per share. 

Conversely, RT Briscoe led the losers’ table, dropping by 7.41 per cent to close at 25k per share. 

Mc Nicholas followed with a loss of 3.70 per cent to close at 52k, while  FztN Cocoa Processors declined by 3.45 per cent to close at 28k per share. 

WAPIC Assurance decreased by 2.44 per cent to close at 40k, while Sterling Bank fell by 1.42 per cent to close at N1.39 per share. 

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 4.77 per cent. 

A total of 486.67 million shares valued at N3.83 billion were exchanged in 3,875 deals.NAN