market caps plunge by N107 billion as stocks appreciates by 0.35%.


March 8, 2023.

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Azonuchechi Chukwu.

The Nigerian Exchange Ltd. (NGX)  Appreciated by 0.35 percent to close the  ended Wednesday, March 8, 2023.

The market capitalisation declined by N107 billion to close at N30.397 trillion in contrast with N30.29 trillion achieved on Tuesday.

Similarly, the All-Share Index, which opened at 55,603.94 shed 197.20 points or 0.35 per cent to close at 55,801.14.

The market’s positive performance was primarily driven by interest in stocks of Dangote Cement, MTN Nigeria, Royal Exchange, amongst others.

The year-to-date (YTD) return rose to 8.88 per cent.

Trans-Nationwide Express recorded the highest price gain to lead the gainers’ chart, appreciating by 9.88 per cent to close at 89k, per share.

Cutix trailed with a gain of 8.5 per cent to close at N2.17 and FTN Cocoa Processors grew by 7.69 per cent to close at 28k, per share.

Sovereignity Trust Insurance was up by 7.14 per cent to close at 30k, while Honeywell Flour appreciated by 6.39 per cent to close at N2.33 per share

Conversely, MRS topped the losers’ table, dropping by 9.88 per cent to close at N27.95 per share.

Asssociated Bus Transport (ABC) followed by losing 7.89 per cent each to close at 35k, while Chams dropped by 7.41 per cent to close at 25k per share.

Also, Ardova depreciated by 6.2 per cent to close at N17.40, while Royal Exchange decreased by 5.33 per cent to close at 71k per share.

Analysis of the activity chart indicated that Courteville Business Solutions emerged the most active in volume terms, having accounted for 34.61 million shares worth N16.61 million.

It was followed by United Bank for Africa (UBA) with an exchange of 15 million shares valued at N127.31 million, and Guranty Trust Holding Company (GTCO) sold 12.75 million shares worth N335.93 million.

Mansard Assurance exchanged 8.28 million shares valued at N16.58 million, while Dangote Cement sold 7.32 million shares worth N2.09 billion.

In all, investors staked N3.57 billion on 152.74 million shares transacted in 3,293 deals.


Azonuchechi Chukwu
Azonuchechi Chukwu
Ms Azonuchechi Chukwu has a BSC holder in mass communication Ebonyi State University

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