Prime Business Africa
Over N710 billion was gained in the Nigerian Exchange (NGX), also known as the stock market, on Tuesday, March 3.
This led to the market capitalisation of the NGX rising from N125.48 trillion recorded on Monday, March 2, to N126.19 trillion.
Join our WhatsApp ChannelThe increase was driven by the 1,107.73 basis points recorded in the all-share index (ASI), which increased to 196,621.96 ASI, from 195,514.23 ASI.
Investors traded 880 million shares in 86,761 deals, valued at N44.51 billion, up from the previous day’s 789.84 million shares exchanged in 84,259 deals, worth N35.07 billion.
Top five gainers
- Sunu Assurance’s share price increased by N0.44 kobo to rise from N4.40 kobo to N4.84 kobo per share.
- UAC Nigeria’s share value grew by N9.70 kobo, from N97 to N106.70 kobo per share.
- Oando ended trading at N50.25 kobo per share, from N45.70 kobo per share – indicating an increase of N4.55 kobo.
- Sovereign Trust’s share appreciated by N0.24 kobo to end trading at N2.67 kobo, having opened with N2.43 kobo.
- Fortis Global Insurance’s share value was up by N0.10 kobo, after closing at N1.13 kobo from N1.03 per share.
Top five losers
- FGSUK2032S7’s share price depreciated by N25.99 kobo, dwindling from N134 to N108 per share.
- Fidson recorded a N9 decline in its share price to end trading at N81 after opening with N90 per share.
- Mecure lost N7.55 kobo in its share price after trading hours, to sell at N68.30 kobo from N75.85 kobo per share.
- LOTUSHAL15 recorded a N12.95 kobo decline in its share price to end trading at N117.66 kobo after opening with N130.61 kobo per share.
- ALEX reported a decline of N1.70 kobo from the previous share price of N17.20 kobo to end trading at N15.50 kobo per share.
Top five trading equities
- Fortis Global Insurance reported that 58.39 million shares valued at N65.98 million were traded on its floor.
- Sterling Financial recorded 56.82 million shares valued at N461 million.
- Japaul Gold saw investors trade 47.28 million of its shares valued at N189 million.
- Zenith Bank recorded 30.69 million shares exchanged on its floor, worth N3.76 billion.
- Jaiz Bank reported that traders exchanged 38.71 million shares valued at N483.68 million.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
