By Ibrahim Garba
Market capitalisation of the Nigerian Exchange Limited (NGX) on Wednesday gained N213 billion to start a new week on a positive note amid investors’ demand for BUA Cement Plc and 23 others.
This is in responds to BUA Cement recent announced reduction of Its Cement Price to 3500.
The NGX All-Share Index (ASI) gained 388.83 basis points or 0.59 per cent to close at 66,770.97 basis points. Also, market capitalisation rose by N213 billion to close at N36.544 trillion.
Accordingly, the Year-to-Date return settled at 30.3per cent.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; BUA Cement, Beta Glass, UAC of Nigeria (UACN), Oando and Guaranty Trust Holding Company (GTCO).
However, market breadth was negative, as 27 stocks lost relative to 24 gainers. BUA Cement emerged the highest price gainer of 9.94 per cent to close at N94.00, while Beta Glass and FTN Cocoa Processors followed with a gain of 9.93 per cent each to close at N66.95 and N1.66 respectively, per share.
