BUA Cement, PZ push NGX to an all-time high, settle at 105,722.78 index points

The local bourse closed on a positive note today, due to buying pressure in the Consumer goods particularly BUA cement and Services sectors. Consequently, the NGX All Share Index gained +1.56% and settled at 105,722.78 index points.

BUA Foods has grown at an impressive rate.  Notably, the manufacturing capacity of the Flour company increased significantly, rising from 500,000 Metric Tonnes (MT) to 1,220,000 MT.

In parallel, between 2021 and 2023, the Pasta division’s capacity increased from 250,000 MT to 500,000 MT.

These expansions resulted in more revenue, with Flour seeing an incredible 152% gain and Pasta seeing a noteworthy 54% increase in 2023 over the previous year.

The market breadth index was negative as we have 24gainers and 30 losers.

Today’s gainers were led by BUAFOODS PLC (+10%), while the top loser was FLOURMILL (-10%). Other top gainers include PZ(+10%) while other bottom losers include: LIVESTOCK (-10%)

In terms of activity levels, total volume increased by +20% to 342million units worth N8.03 billion

FBNH PLC (+7.69%) was the most actively traded stock with about a 49million units of shares worth N1.39billion