NGX: Investors gain N836bn as UBA, MTNN, JBERGER, ACCESSCORP, others soar

Investors in the Nigerian equities market gained N836b in profits as stocks like UBA, MTNN, JBERGER, ACCESSCORP, and others soared on the floor of the Nigerian Xchange (NGX) on Tuesday March 12, 2024 making it two consecutive days of profit making.

This is even as the NGX-All-Share Index ASI increased to 103,524.44 from 102,044.84 recorded at the close of the previous trading day on the bourse.

Similarly, the market capitalization increased today by N836.59 billion to N58.533 trillion from N57.697 trillion recorded at the close of the previous trading day.

The market breadth was positive as 34 stocks advanced, 14 stocks declined, while 71 stocks remained unchanged in 11, 519 deals.

United Bank for Africa (UBA) Plc led other gainers with 10% growth to close at N25.30 from its previous price of N23.00. MTN Nigeria Communications, Julius Berger Nigeria, and Access Bank Holding Plc are amongst other gainers that also grew their share prices by 9.98%, 9.71%, and 9.51% respectively.

READ ALSO:NGX: Stock market rebounds from trading losses as investors make N345bn

Tantalizers Plc led other price decliners as it shed 7.89% off its share price to close at N0.35, from its previous close of N0.38. NASCON Allied Industries, Morison Industries, and C&I Leasing Plc are amongst other losers that also shed their share prices by 6.77%, 6.62%, and 6.45% respectively.

On the volume index, Transcorp Plc traded 170.718 million units of its shares in 969 deals, valued at N3.135 billion followed by Access Bank Holding Plc which traded 48.572 million units of its shares in 810 deals, valued at N1.059 billion and Guaranty Trust Bank Holding (GTCO) Plc which traded 39.035 million units of its shares in 560 deals, valued at N1.658 billion.

On the value index, TRANSPOWER recorded the highest value for the day trading equities worth N3.306bn in 1, 025 deals followed by TRANSCORP which traded stocks worth N3.134 in 999 deals and GTCO which traded stocks worth N1.658bn in 449 deals.

By: Babajide Okeowo

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