Investors Gain N88bn in Nigerian Stock Market

Investors Gain N88bn in Nigerian Stock Market

The Nigerian equities market closed on a  positive note, as key indicators recorded marginal gains due to renewed buying interest in select stocks.

Market capitalisation rose by N88 billion, or 0.06 per cent, to N140.523 trillion from N140.435 trillion recorded on Monday.

Similarly, the All-Share Index advanced by 135.97 points, or 0.06 per cent, to close at 218,249.81, compared with 218,113.84 posted on Monday.

The uptick was largely driven by increased demand for stocks such as National Salt Company, Union Dicon Salt, WAPCO, Trans-Nationwide Express and UAC of Nigeria, among others.

As a result, the market’s Year-to-Date (YTD) return improved to 40.25 per cent.

However, market breadth was negative, with 44 decliners against 25 gainers, reflecting mixed investor sentiment.

On the losers’ chart, Legend Internet led with a 9.92 per cent decline to close at N5.63.

Abbey Mortgage Bank fell by 9.59 per cent to N6.60, while Stanbic IBTC dropped by 8.96 per cent to N154.50.

Access Corporation shed 8.83 per cent to close at N29.95, while Veritas Kapital declined by 7.50 per cent to N1.85 per share.

Conversely, National Salt Company topped the gainers’ chart with a 10 per cent increase to N171.60. Union Dicon Salt rose by 9.92 per cent to N19.95, while WAPCO gained 9.64 per cent to close at N273 per share.

Trans-Nationwide Express appreciated by 8.27 per cent to N7.20, and UAC of Nigeria advanced by 7.84 per cent to N110 per share.

Market activity, however, weakened at the close of trading, with total volume declining by 14.38 per cent to 842.48 million shares valued at N44.86 billion, traded in 61,617 deals.

Access Corporation recorded the highest volume, with 110.81 million shares, accounting for 13.15 per cent of total turnover.

MTN Nigeria led the value chart with transactions worth N6.55 billion, representing 14.60 per cent of the total value traded. Oyedele Replaces Edun as Tinubu Reshuffles Cabinet