NGX: Market cap up by 1.54%, Sterling Financial, Nigerian Breweries lead gainers

NGX: Market cap up by 1.54%, Sterling Financial, Nigerian Breweries lead gainers

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The Nigerian capital market saw a significant 1.54 percent growth yesterday, driving the equity capitalization from N34.97 trillion to N35.51 trillion at the close of trading. This likewise translated to a rise of 995.7 basis points in the All-Share Index, making it stand at 65,263.06 from 64,267.36 ASI posted the previous day.

Investors made a total of 445.27 million shares worth N5.08 billion exchange hands in 7,095 deals, this amount being greater that the 330.78 million shares that exchanged for N4.26 billion in 6,251 deals the day before.

The top five stocks to rise significantly on Thursday’s market were Sterling Financial, Nigerian Breweries, PZ, Chellram and Dangote Sugar. Sterling Financial recorded the highest gain of N0.33 kobo, moving from N3.30 kobo to N3.63 kobo. Nigerian Breweries followed with a N3.80 kobo increase from N38 kobo to N41.80. Similarly, PZ had a N1.65 kobo addition to close above its opening price of N16.50 at N18.15 kobo. The other two mentioned stocks recorded an increment of N0.28 kobo and N3.25 kobo respectively.

On the flipside, Eterna led the top stocks to face the biggest losse. Its share value dropped from N25.95 kobo to N23.40 kobo, representing a 2.55 kobo loss. This was followed by John Holt’s N0.11 kobo decrease from N1.63 kobo to N1.47 kobo. Thomas Wyatt had its share price dip by N0.11 kobo, dropping from N1.17 kobo to N1.06 per share. Finally, McNichols and Courtville lost 9.33 percent and 9.09 percent of their share prices respectively.

At the end of the trading day, the highest turnover was recorded by Sterling Financial with 69.45 million shares valued at N238.09 million. Other stocks with significant turnovers were FCMB, Access Corporation, Japaul Gold and Fidelity Bank.

It is evident that the Nigerian capital market is gradually becoming more and more active. For the advancement of the Nigerian economy, it is important that the stakeholders continually strive to ensure that healthy exchanges that bring about growth in the Nigerian market are constantly carried out

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