NGX: United Capital leads as top gainer for the week
The United Capital Plc emerged the top gainer in the NGX for the week ending July 19, 2024, with its share price appreciating by 42.78% to close the week at N40.55. In the week ending July 19, 2024, the NGX posted a 0.87% gain to reach an All-Share Index of 100,539.4 points and a market […]
The United Capital Plc emerged the top gainer in the NGX for the week ending July 19, 2024, with its share price appreciating by 42.78% to close the week at N40.55.
In the week ending July 19, 2024, the NGX posted a 0.87% gain to reach an All-Share Index of 100,539.4 points and a market capitalization of N56.93 trillion, its highest since mid-April.
Year to date, the NGX has produced a return of 34.46%, as the market overtook June’s inflation rate of 34.19%.
United Capital’s share price moved from N28.40 to N40.55 to mark a 42.78% appreciation.
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Throughout the week, approximately 75.7 million United Capital shares exchanged hands, driven by heightened investor interest following the company’s interim dividend announcement.
Africa Prudential Plc’s share price also moved by 33.78% during the week, from N7.40 to N9.90. And it was followed by Cutix Plc, which appreciated by 29.65% to close the week at N5.99, from N4.62 at the start of the week.
Cutix Plc was one of the top traded stocks in the NGX during the week, with 232 million shares traded during the week.
Champion Breweries Plc posted a 12.09% gain during the week, followed by Oando with an 11.28% gain. Oando Plc has been on a bullish spree this year, posting a year-to-date return of 73.8%.
NAHCO Plc posted a 9.44% gain, with its share price closing at N39.40. Learn Africa Plc posted a 9.38% gain, while Sunu Assurances Nigeria posted an 8.87% gain.
University Press plc posted an 8.66% gain, and The Initiates Plc posted a 7.50% to complete the top 10 gainers during the week.
Linkage Assurance Plc was the top decliner during the week, with a 24.56% decline, as its share price moved from N1.14 to N0.86. The stock has declined by 42.67% from its year-high price of N1.50.
Veritas Kapital Assurance also appeared on the losers list, with an 11.67% decline during the week.
In 2024, the stock has been one of the best performers on the NGX, with its decline signaling moves by investors to take profit on its high price.