Equities Investors Gain N880bn in Nigerian Stock Market
Investors gained N880 billion as the equities segment of the Nigerian Exchange (NGX) sustained its upward momentum on Wednesday, with the All-Share Index climbing 0.78% to 178,184.35 points.
Due to sustained bargain hunting, market capitalization increased by N880.3 billion, representing a 0.78% change, and closing at approximately N114.4 trillion.
Market breadth was 1.58x, with 49 gainers and 31 losers. The gainers list was led by NESTLE, FTGINSURE, CONHALLPLC, and MEYER, all of which recorded 10.00% gains, while the losers list was led by HONYFLOUR (-9.70%), NEIMETH (-9.15%), and TIP (- 5.81%).
Activity levels declined as total volume decreased to 939.15 million, and total value fell to N34.03 billion, while the number of deals rose to 61,279 compared to the last trading session.
Trading data showed that 1.30 billion units of shares valued at N50.43 billion were exchanged in 58,965 deals. TANTALIZER topped the volume chart with 85.32 million units, while ARADEL led the value chart with N2.98 billion worth of trade.
CONHALLPLC, FTGINSURE, NESTLE, MEYER, and CAP emerged as top performers, whereas HONYFLOUR, NEIMETH, TIP, RTBRISCOE, and STERLINGNG recorded the largest losses.
Sectoral indexes closed on a mixed note, Banking led gains with a 1.58% rally, followed by Insurance rising 1.53%, Consumer Goods increasing 1.28%, and Oil & Gas edging up 0.02%.
In contrast, the Industrial sector declined 0.02%, while the Commodity sector remained unchanged. # Equity Investors Gain N880bn in Stock Market First Holdco Writes Off N27m as Bad Debt, Not N748bn
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