NGX Expands as Investors Ramp Up Geregu Shares



NGX Expands as Investors Ramp Up Geregu Shares

NGX Expands as Investors Ramp Up Geregu Shares

The Nigerian equities market traded marginally higher as buying interest in Geregu Power Plc triggered a 2 basis points expansion in the All-Share Index to 54,520.20 points.

Increasing buying momentum has continued to drive growth in the local bourse. Investors appear to be targeting dividend announcement on corporate earnings release, pushing market index upward to 2008 highs.

After yesterday’s gain, the stock market year to date return inched upward to +6.4%.

The positive drive was supported by 3.7% share appreciation in Geregu and other mid-cap companies.

Meanwhile, the total volume traded declined by 6.4% to 125.86 million units, valued at NGN3.60 billion, and exchanged in 2,670 deals.

GTCO was the most traded stock by volume at 19.17 million units, while DANGCEM was the most traded stock by value at NGN1.95 billion.

Sectoral performance was mixed as the Insurance (-0.4%) and Industrial Goods (-0.1%) indices declined.

However,the Consumer Goods popped up 0.1% as the index advanced. The Oil & Gas and Banking indices closed flat.

As measured by market breadth, market sentiment was positive (1.1x) as 17 tickers gained relative to 15 losers.

TRIPPLEG gained +9.7% and JAPAULGOLD jumped up by +7.1% to lead the gainers’ list, while COURTVILLE lost 9.6% and CWG declined by 9.0% – recorded the most significant losses of the day.

Jaiz Bank Grows Profit by 42% in 2022

Subscribe to our magazine

━ more like this

AFCON 2023 Countdown: Cote d’Ivoire may turn back some Nigerians over travel passports

BY KUNLE SOLAJA. Nigerians holding the ECOWAS Travel Certificates and going for the Africa Cup of Nations next month are certain...

Namibia trainer Benjamin names list of 28 players

Namibia will make its fourth African Cup of Nations appearance Coach Collin Benjamin has called up 28 players The Brave Warriors...

Guinea coach Diawara names 25-man squad for AFCON

Guinea will be making its 13th  African Cup of Nations appearance Coach Kaba Diawara has called up 25 players Syli National...

Mozambique coach Conde announces 23-man squad

Mozambique will make their fifth  African Cup of Nations appearance Coach Chiquinho Condé has called up 23 players The Mambas placed...

Osimhen extends contract with Napoli till 2026

Nigerian international forward Victor Osimhen has signed a contract extension with Napoli until 2026, the Serie A champions announced on Saturday....


Please enter your comment!
Please enter your name here