NGX’s last trading day in November closes 0.71% higher

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The last trading day in the month of November 2022 on the Nigerian Exchange (NGX) Limited floor closed on a positive note on Wednesday.

The market rallied 0.71 percent yesterday on renewed bargain hunting, especially in the banking space, where Wema Bank posted the strongest price growth.

According to data compiled from the stock market, investor confidence improved during the session, as market breadth ended positively with 21 stocks appreciating and nine stocks depreciating.

As stated above, Wema Bank gained 10.00 per cent to sell for N3.30, UAC Nigeria rose 9.95 per cent to N10.50, Academy Press improved 9.45 per cent to N1.39, United Capital appreciated 8.10 percent to N13.35, and ABC Transport rose 8.00 percent to 27 Kobo.

On the other hand, Royal Exchange lost 10.00 per cent to trade at 63 Kobo, Red Star Express fell 9.25 per cent to N2.06, Prestige Assurance declined 8.51 per cent at 43 Kobo, Nigerian Breweries fell 7.08 percent to N42. 00, and RT Briscoe dropped by 6.90 percent to 27 Kobo.

trade publication reports that only the banking sector closed higher yesterday after improving 1.79%, as the consumer goods and insurance counters weakened 0.79% and 0.59% each, while the energy and industrial goods closed unchanged.

At the close of business, the All-Share Index (ASI) rose 337.07 points to 47,660.04 points from 47,322.97 points, and the market capitalization grew by N183 billion to N25.959 trillion from N25.776 trillion .

The activity chart showed that bank stocks were attractive to traders in the midweek session as they dominated the space, with FBN Holdings selling 12.5 million units.

Fidelity Bank traded 10.3 million shares, Zenith Bank traded 8.0 million shares, Wema Bank traded 5.9 million shares and Stanbic IBTC sold 5.1 million shares.

A total of 107.0 million shares worth N1.3 billion were traded in 3,227 trades during the session, in contrast to 121.0 million shares worth N1.7 billion traded in 3,022 trades on Tuesday, which which indicates an improvement in the number of operations of 6.78 percent. percent, and a decrease in trading volume and value by 11.51 percent and 19.97 percent, respectively.

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