Nigeria’s Domestic Equity Market Gains N16bn

Nigeria’s Equity Market Gains N6bn

In the Nigerian Exchange, trading activity witnessed continued growth, resulting in a market capitalization increase of N16 billion. The total market capitalization of listed equities grew by 0.04%, reaching N37.004 trillion compared to the previous day’s N36.988 trillion. The NGX All Share Index (ASI) also showed an uptick, rising to 67353.23 points from 67326.12 points on the previous trading day. Top gainers on the equity market include Guinea Insurance, leading the gainers table with a 9.09% increase to N0.24 per share, followed by Eterna Plc with a 6.86% gain, closing at N14.80 per share. Unity Bank added 5.49%, closing at N0.96 per share, Jaiz Bank with a 5.26% increase to N1.60 per unit, and Omatek with a 4.55% gain, closing at N0.46 per share. On the flip side, CWG recorded the highest loss, dropping by 10% to close at N8.55 per share, followed by RTBriscoe with an 8.77% loss to close at N0.55 per unit. AfriPrudential fell by 7.14%, closing at N6.50 per unit, and FTNCocoa dipped by 6.29% to close at N1.64 per share. Neimeth International Pharmaceutical was down by 6.06% to N1.55 per share. The total volume of transactions increased by 19.59 basis points, representing a 5.18% rise, with investors trading 397.560 million shares valued at N4.699 billion in 6,165 deals. This is compared to 377.970 million shares worth N5.169 billion traded in 6,729 deals. Wema Bank was the most traded stock by volume, with 88.986 million shares valued at N418.147 million. AccessCorp followed with 35.606 million shares at N59.848 million, United Bank for Africa traded 35.171 million shares at N659.134 million, Fidelity Bank exchanged 33.405 million shares valued at N279.512 million, and GTCO Plc traded 23.421 million shares at N82.848 million.

Nigeria’s equity market gains N94bn

Stock market swells N867.7bn, as forex gap widens across trades

Transactions on the floor of Nigerian Exchange (NGX) Thursday closed higher, gaining N94 billion following gains recorded by small, medium and large stocks. The sell-off in the shares of United Bank for Africa Plc, Sterling Bank, FBNHoldings and others also lifted activities in the market. Specifically, Market capitalisation of listed equities increased by 0.27 per cent to N34.810 trillion from N34.716 trillion reported the previous day. The NGX All Share Index also appreciated by 173.49 basis points to 63930.72 points from 63757.23 points traded the previous day. An analysis of the investment showed that UPL led gainers table during the day, gaining 10 per cent to close at N2.42 per unit, EuniSell followed with a gain of 9.97 per cent to close at N3.20 per share, Academy Press gained 9.95 per cent to close at N2.43 per share, Chellaram up by 9.91 per cent to close at N2.33 per unit while Ikeja Hotel up by 9.38 per cent to close at N2.80 per unit. On the contrary, Courtvellle Business Solutions topped losers chart in percentage terms, declining by 9.86 per cent to N0.64 per share, FTNCocoa trailed with 9.66 per cent to close at N1.87 per share, Abbey Building Society dipped by 9.49 percent to close at N1.25 per share, May and Baker dipped by 9.18 per cent to close at N1.24 per share, UPDC down by 8.55 per cent to close at N1.07 per share. Volume of trades increased 884.508 million, representing 186.81 per cent as investors traded 1.358 billion shares valued at N18.066 billion in 7179 deals against 473.492 million shares worth N10.081 billion in 7403 deals. Transaction the shared of United Bank for Africa led market activities during the day, exchanging 961.501 million share worth N13.306 billion, Sterling Bank followed with account of 43.662 million shares cost N158.992 million, FBNHoldings exchanged 40.316 million shares worth N720.053 million, Japaul Gold traded 35.954 million shares valued at N28.040 million, Universal insurance sold a total of 35.089 million shares cost N8.266 million.