BUA Cement Plc and Beta Glass Plc climbed the maximum 10 percent daily limit on the Nigerian Exchange (NGX) on September 17 as renewed buying strengthened the broader equities rally and pushed market capitalisation closer to N160 trillion.
BUA Cement advanced from N270.00 to N297.00, gaining N27.00 per share, while Beta Glass jumped N46.50 from N465.00 to N511.50.
Consolidated Hallmark Holdings Plc also reached the 10 percent daily limit, rising from N6.70 to N7.37.
The gains placed the three companies at the top of the equity gainers’ chart as investors increased exposure to selected stocks during a session in which the broader market advanced 0.62 percent.
UPDC Real Estate Investment Trust (UPDC REIT) separately appreciated 10 percent, rising from N16.00 to N17.60. As a real estate investment trust rather than an ordinary company equity, it represents a different class of listed security.
Royal Exchange Plc followed closely, appreciating 9.89 percent from N0.91 to N1.00.
The strong performance of BUA Cement was particularly notable because of its higher share price and the size of the absolute movement. Its N27.00 increase represented one of the largest price gains among equities during the session.
Beta Glass recorded an even larger absolute price increase of N46.50 per share, taking its market price above the N500 level to N511.50.
The gains came as the NGX All-Share Index rose 1,523.59 points to 246,315.38 points, representing an increase of approximately 0.62 percent from 244,791.79 points in the previous session.
Equity market capitalisation consequently increased from N158.715 trillion to N159.892 trillion, adding approximately N1.18 trillion in investor wealth.
Market activity also strengthened substantially with investors exchanging 1.112 billion shares worth N46.02 billion in 54,102 deals, compared with 662.43 million shares valued at N37.45 billion on September 16.
Despite the broader advance, price movements remained mixed across the market.
Transcorp Power Plc fell 9.97 percent from N219.60 to N197.70, while Legend Internet declined 9.88 percent to N3.65.
Omatek Ventures dropped 9.66 percent to N1.31, while LivingTrust Mortgage Bank lost 8.45 percent to close at N2.60.
The divergence between the leading gainers and decliners showed that the September 17 rally was not uniform with investors directing buying interest toward selected counters even as selling pressure persisted elsewhere.
For BUA Cement, Beta Glass and Consolidated Hallmark, however, demand was strong enough to push all three stocks to the 10 percent daily price limit, reinforcing the positive momentum that lifted the broader NGX market during the session.
