Investors Gain N1.752trn from Stock Trading in One Day

By Dipo Olowookere

Investors involved in stock trading on the Nigerian Exchange (NGX) Limited increased their wealth by 1.07 per cent on Tuesday.

The gains came mainly from their investment in Dangote Cement equities, and the cement giant sustained its upward movement.

During the session, the industrial goods sector, which the large-cap stock belongs to, closed higher by 5.50 per cent. The consumer goods index moved up by 0.05 per cent, and the banking segment appreciated by 0.01 per cent, while the insurance and energy indices lost 2.44 per cent and 0.01 per cent, respectively.

When the closing gong was struck to close the bourse, the All-Share Index (ASI) soared by 2,699.52 points to 253,990.06 points from 251,290.54 points, and the market capitalisation improved by N1.752 trillion to N164.913 trillion from N163.161 trillion.

Yesterday, UPDC REIT gained 10.00 per cent to close at N19.25, Dangote Cement added 9.80 per cent to settle at N1,341.90, Honeywell Flour rose by 9.67 per cent to N21.55, NAHCO grew by 8.00 per cent to N151.20, and Cutix surged by 4.65 per cent to N2.25.

On the flip side, Presco lost 10.00 per cent to quote at N1,840.80, Tripple Gee crashed by 9.93 per cent to N2.54, Thomas Wyatt depreciated by 9.85 per cent to N2.47, Austin Lax shed 9.81 per cent to N2.39, and Transcorp declined by 9.70 per cent to N32.60.

A look at the activity chart showed a significant improvement, with investors trading 5.2 billion shares for N441.5 billion in 35,946 deals on Tuesday versus the 329.5 million shares worth N25.5 billion exchanged in 43,700 deals on Monday.

This indicated that the number of deals depleted by 17.74 per cent, and the trading volume and value surged by 1,478.2 per cent and 1,631.0 per cent, respectively.