21 Firms Record Losses After Investors Traded ₦3.7bn On NGX

Trading at the floor of the Nigerian Exchange Limited was unfavourable to twenty-one companies on Wednesday, April 20, 2023.

After eight hours of trading yesterday, investors gained ₦319.61bn, this, however, excludes 21 firms.

A total of forty-nine firms are understood to have participated in the trading activities yesterday.

Only 28, however, enjoyed the market appreciation, Naija News understands.

The equity market yesterday remained positive and the market capitalisation of the equities listed on the NGX rose to ₦25.952tn compared to ₦25.632tn recorded the previous day.

The NGX All-Share Index also rose to 48,138.71 basis points from 47,545.86 basis points.

A total of 349.56 million shares valued at ₦3.7bn were traded by investors in 4,587 deals, Naija News understands.

ETERNA and JAPAULGOLD topped the gainers’ list as their share prices rose by 10 per cent each to ₦5.5 kobo and 33 kobos each.

GUINNESS and MEYER’s share prices appreciated by 9.96 per cent and 9.52 per cent to ₦82.25 and ₦1.93 respectively, while WAPIC and NB share prices appreciated by 9.52 per cent and 8.6 per cent to 0.46kobo and ₦44.20 respectively.

Parthian Securities noted that the equity market remained positive due to bargain hunting on a large cap.

“We expect the market to remain positive tomorrow at Thursday’s trading session due to increased investor participation in the market,” it stated.