8 elite companies control nearly half of stock market with N11trn

The stock market of the Nigerian Exchange Ltd., (NGX) gained marginally on Tuesday with  N7 billion to close at N25.464 trillion, from N25.457trillion  on Monday.

Also, the NGX All-Share Index appreciated marginally by 0.03 per cent to close at 47,246.90 basis points from 47,233.91 basis points.

Sectorally, the NGX Insurance deprecated by 0.6 per cent, NGX Consumer Goods dipped by 0.4 per cent, and NGX Banking index also dropped 0.1per cent.

The NGX Industrial Goods, on the other hand, rose 0.02 per cent while Oil & Gas indices rose 0.01 per cent.

As measured by market breadth, market sentiment was positive as 29 stocks gained relative to 18 losers.

Among the top five gainers are May & Baker, which rose by 44 Kobo to close at N5.00 from N4 56 per share, representing 9.65 per cent while Cutix Plc gained  9 Kobo to close at N2.84 from 2.59  per share, an increase of 9.65 per cent

SCOA Plc increased with a gain of 23 kobo to close at N2.58 from N2.35 per share, representing 9.78 per cent.

Learn Africa appreciated by 20 Kobo to close at N2.42 from N2.20 per share while Niger Insurance Plc gained 02 Kobo to close at 22 Kobo from 20 kobo per share, both representing10 per cent gain.

Among the top five losers was Courtville Bussiness Solution, which depreciated  by 3 Kobo, closing at 51 Kobo from 54 Kobo per share, representing 5.56 per cent while Ellah Lakes shed 42 Kobo to close at N3.83 from N4.25 per share, dropping by 9.88 per cent.

Also, Veritaskap was down by 2 Kobo to close at 23 Kobo  from 25 Kobo per share, a decrease of eight per cent.

The total volume traded advanced by 0.1per cent to 421.82 million units, valued at N5.16 billion, and exchanged in 5,992 deals.

UCAP was the most traded stock by volume at 66.10 million units and total valued traded of N889.15million, while Zenith Bank was the most traded stock by value at N1.39 billion with 51. 6million volume traded.(NAN)

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