Investor Demand For BUA Cement And 22 Other Products Boosts The Stock Market By N213 Billion

In response to investor demand for BUA Cement Plc and 23 other companies, the market capitalization of the Nigerian Exchange Limited (NGX) increased by N213 billion on Tuesday to kick off a new week on a good note.

This was revealed on Tuesday by NGX Data.

The optimistic action follows the recent announcement by BUA Cement that it would lower its cement price to N3,500 per bag.

The NGX All-Share Index (ASI), which closed at 66,770.97 basis points, increased by 388.83 basis points, or 0.59 percent. Market value increased by N213 billion to conclude at N36.544 trillion as well.

As a result, the Year-to-Date return was determined to be 30.3%.

Price increases in major and medium-capitalized stocks such as BUA Cement, Beta Glass, UAC of Nigeria (UACN), Oando, and Guaranty Trust Holding Company (GTCO) were the primary drivers of the upturn.

Although there were 24 gainers contrasted to 27 losers in the market breadth, it was negative. Beta Glass and FTN Cocoa Processors were next with gains of 9.93% each to close at N66.95 and N1.66, respectively. BUA Cement had the biggest price rise of 9.94% to conclude at N94.00.