Two Nigerian companies push NGX to N405bn gain

Two Nigerian companies’ stocks propelled the Nigerian Exchange Limited to a N405 billion gain on Wednesday.

The two companies with the highest gains were ABC Transport and Beta Glass. Interestingly, Wednesday’s rally was not driven by the banking sector.

The market performance indices rose by 0.56 per cent, spurred by increased interest in major stocks.

Accordingly, market capitalisation rose by N405 billion to close at N72.302 trillion, compared with N71.897 trillion on Tuesday.

Similarly, the All-Share Index increased by 641.63 points, or 0.56 per cent, to settle at 114,659.11.

Consequently, market breadth also closed positively, with 32 gainers and 28 losers.

On the gainers’ table, ABC Transport rose by 10 per cent to close at N2.64, while Beta Glass also appreciated by 10 per cent, settling at N231.10 per share.

Berger Paints gained 9.98 per cent, finishing at N24.80, and Fidson Healthcare rose by 9.91 per cent, closing at N34.95 per share.

Similarly, Legend Internet Plc advanced by 9.88 per cent, ending the session at N6.45 per share.