Investors rake in N215 billion as ASI crosses historic 72 points in NGX

The country’s stocks witnessed another round of bullish trends as the Nigerian Exchange Limited benchmark index, the All-Share Index, rose by 0.55 per cent on Wednesday at 72,299.79 points, thus crossing the 72,000 basis points for the first time.

The impressive figure came from trading activities on the NGX, which entered the fourth day of positive trading and resulted in an N415bn gain for equity market investors.

Recall that on November 1, the ASI crossed the 70,000 mark milestone to close at 70,581.76. This had followed days of sustained bullish trading. Thus far, the year-to-date gain of the ASI has risen above 40 per cent.

At the close of trading on Wednesday, the market capitalization rose by 0.55 per cent to close at N39.563 trillion, showing that N215 billion was added to the investors’ wealth.

Transaction volume increased to 433.180 million from 319.56 million trades valued at N8.08bn from 6,650 deals executed. The number of stocks traded at the end of Wednesday’s trading session closed at 119.

Accordingly, the gainers chart were the stocks of SCOA, Infinity Trust Mortgage Bank, AccessCorp, Cornerstone Insurance and Transcorp Hotel, which gained 9.88 per cent, 9.86 per cent, 8.09 per cent, 7.41 per cent and 6.83 per cent to close at N1.78, N2.34, N22.05, N1.45 and 46.90 per unit respectively.

Meanwhile, the losers were led by University Press Plc, Sunu Assurance, Regency Alliance Insurance, Eterna and Flour Mills with -9.82 per cent, -9.38 per cent, -8.11 per cent, -8.03per cent, and 4.57 per cent loss each.

Sectoral performance was a mixed bag, with two of the five tracked indexes ending in the green, two remaining relatively flat, and one posting losses.

The Banking and Consumer goods indexes led the gainers, advancing by 0.94 per cent and 0.07 per cent, respectively.

In contrast, the Insurance sector faced a decline, plummeting by 1.80 per cent, while the Oil and Gas and Industrial Goods indexes held steady compared to the previous session.

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