NGX rebounds, up 0.43% on Tuesday

NGX continues bullish trend as ASI rises 2.04%

The Nigerian Exchange continued its bullish development on Wednesday, gaining 2.04% to hit an all-time high of 77,537.57 points.

This increased the market capitalization to over 42.43 trillion naira and increased capital by 847 billion naira.

Market volume based on trading volume increased to 927,558,000 units from yesterday's 515,807,000 units. The value also increased by N10.69 billion from N5.57 billion yesterday.

Therefore, the biggest gainer was DANGSUGAR, which gained +10.00% to end at N63.25. Nascon, +10.00 percent, ended at 59.40 naira. UBA, +10.00 percent, ended at 28.60 Naira. Berger, +10.00%, closed at 14.30 Naira. Custodian, +10.00%, ends at 9.90 Naira. FCMB closed at N8.25, up +10.00 percent.

On the contrary, the biggest decliner was LEARNAFRICA, which lost -9.09% to close at N2.90. Champion, -7.32%, finished at N3.80. CILEASING, -2.33%, closed at N5.03. NGXGROUP, -1.70%, closed at N23.10. Ella Lakes, -1.64%, closed at N3.00. Cadbury -1.17% to close at N16.90.

As for the top trading stocks, FIDELITYBK (+9.65%) topped the list with 108.11 million units, followed by FCMB (+10.00%) with 79.06 million units, UBA (+10.00%) with 55.5 million units, and UNIVINSURE (+ 7.69%) with 50.6 million units and ACCESSCORP (+9.98 percent) with 46.87 million units.

In terms of amount, UBA (+10.00%) topped the list with N1.54 billion, followed by Fidelity BK (+9.65%) with N1.31 billion, ACCESSCORP (+9.98%) with N1.18 billion and Zenith. Bank (+4.23%) followed with 832 naira. 0.84 million naira, FCMB (+10.00%) is 644.03 million naira.

BUAFOODS (+1.81%), ZENITHBANK (+4.23%) and GTCO (+3.49%) all posted gains, with stocks worth over NOK 1 trillion trading well. Other members of this category (AIRTELAFRI, BUACEMENT, DANGCEM, MTNN, SEPLAT) have not recorded any price increase.

Tier 1 banks traded positively and the profits recorded by these banks drove the overall positive performance of the market. The top gainers are FBNH (+8.25%), UBA (+10.00%), GTCO (+3.49%), ACCESSCORP (+9.98%), and ZENITH BANK (+4.23%).


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