Today’s trading session on the floor of the Nigerian Exchange (NGX) closed with a gain of N199 billion in market capitalization.
The All Share Index (ASI) increased by 0.73% to close at 50,300 points.  In the same vein, market breadth closed positive as GEREGU led 37 gainers, with 9 losers topped by LIVESTOCK at the end of today’s session.
As of the close of the market on Wednesday, the stock market value stood at N27.3 trillion. Year to date, the stock market has advanced by 7583.56 basis points or 17.8%.
Market Indices   Â
- NGX ASI: 50,300 points
- Previous ASI: 49,934.6 points
- Percentage Day Change: 0.73%
- % Y-t-D: 17.8%
- Market Cap: N27.397 trillion
- Volume: 490.4million
- Value: N7.74 billion
- Deals: 4,480
NGX Top ASI gainers
- GEREGU up + 10.00% to close at N139.70
- NESTLE up + 10.00% to close at N1100.00
- MCNICHOLS up + 9.62% to close at N0.57
- CWG up + 9.52% to close at N0.92
- ROYALEX up + 9.35% to close at N1.17
NGX Top ASI losers
- LIVESTOCK down – 8.40% to close at N1.09
- FBNH down – 6.36% to close at N11.05
- VITAFOAM down – 5.92% to close at N20.65
- UNILEVER down – 2.54% to close at N11.50
- FIDELITYBK down – 1.94% to close at N4.56
Top 3 by Volume
- FBNH – 78,864,312
- GTCO – 38,530,444
- ZENITHBANK – 19,642,435
Top 3 by Value
- GTCO – N922,553,157
- FBNH – N891,708,267
- GEREGU – N616,217,338
The increased interest by Nigerian investors should be commended. The efforts of the NGX management was largely directed at bringing foreign investors to our market, an effort that was thwarted by COVID and the inadequate foreign exchange available for repatriation. In the last ten years, the exchange has not executed any local roadshows to sensitive the investors and listen to their concerns. It’s domestic programmes had been largely elitist and concentrated in Abuja and webinars with very poor participation. At least the jinx that no two years of consecutive positive returns had been broken. We hope that the exchange will in 2023 provide a positive real return
The craze for seeking sponsorship by NGX for programmes is unbearable. Sometimes, one begin to wonder what it does with it’s revenues. The staff welfare is poor. Only beneficial to top management. Stock market is no longer a Lagos affair. It is nationwide. The investor in Giombe Is as important as that in Oshogbi. There has been no local roadshows in the ‘north in over a decade