Nestle, Others Lead Gainers on NGX as Bulls Extend Reign on Wednesday

The Nigerian Bourse closed green at the close of market activities as bulls took control and raise the overall market by 58 basis points on Wednesday 24th May 2023.

The All-share Index (ASI) increased by 0.58% on the third trading day of the week, continuing its upward trend to close at 52,927.60 points, reflecting gains of 0.66% for the one week, 2.56% for the past four weeks, and 3.27% for the entire year.

A  total of 116 NGX listed stocks were traded in total, showing a significant market breadth, a measure of investor confidence, with overall gainers amounting to 36 and losers amounting to 17. Nestle Nigeria took the top spot among gainers, with a share price increase of 9.98%, closing at N1,148.00 per share. Tripple Gee & Co. was next, with a 9.88% increase. Additionally, UAC of Nigeria and University Press followed as both increased by 9.88% and 9.76%.

Chellarams finished last on the losing side with an end-of-day price fall of 9.82% at N1.47 per share, followed by McNichols with a decline of 9.59%, Wapic Insurance with a decline of 8.7%, and Academy Press with a decline of 7.14%. With 69.2 million shares traded, Access Holdings had the most volume, followed by United Bank for Africa (66.5 million), Zenith Bank (37.5 million), and Fidelity Bank (32.5 million).

Other remarkable indices that performed were the NGX Top 30 Index (+0.57% Day Change; +0.59% One Week; +3.74% Year To Date), NGX Top 50 Index (+0.41% Day Change; +2.72% One Week; +10% Year To Date), NGX Oil & Gas Index (+2.54% Date; +0.46% One Week; +20.33% Year To Date), NGX Consumer Goods Index (+2.07% Day Change; +2.7% One Week; +32.12% Year To Date), NGX Banking Index (+1.06% Day Change; +4.38% One Week; +16.44% Year To Date), and NGX Pension Index (+1.06% Day Change; +3.47% One Week; +16.43% Year To Date).

A total of 455,179,794 shares were traded in 6,635 transactions at the close of today’s trading session on the Nigerian Stock Exchange, for a market value of N7,833,754,972.93. Data indicates a 30% increase in volume, a 52% increase in turnover, and a 12% increase in deals over the previous NGX trading day. The Nigerian Stock Exchange now has a market value of NGN 28.8 trillion.