Bulls return as equity market gains N60bn

The domestic equity market, on Thursday closed on a positive note, appreciating by N60 billion as Sterling Bank, Transcorps, Fidelity Bank, Dangote Sugar, among others lifted market activit The market capitalisation of listed equities increased by 0.17 per cent to N36.422 trillion from N36.362 trillion reported the previous day. The NGX All Share Index also appreciated by 109.46 basis points to 66548.99 points from 66439.53 points reported on Wednesday. A review of the investment showed that NGX group led gainers table during the day with 10 per cent to close at N26.40 per unit, Seplat Energy followed with a gain of 9.95 per cent to close at N1837.00 per share, Trans Express gained 9.38 per cent to N1.05 per unit, UPL added 9.32 per cent to close at N2.58 per share while ABC Transport increased by 8.64 per cent to close at N0.88 per share. Conversely, Multiverse recorded the highest loss, declining by 10 per cent to close at N2.70 per share, Nascon trailed with a drop of 9.81 per cent to close at N50.55 per unit, Honey Well Flour down by 8.11 per cent to close at N3.40 per share, May & Baker dipped by 7.27 per cent to close at N5.10 per shares while Jaiz Bank sheds 6.83 per cent to close at N1.50 per share. Volume of trades declined as investors traded 620.982 million shares worth N7.180 billion in 7972 deals against 637.193 million shares valued at N7.790 billion exchanged hands the previous day in 10033 deals. Sterling Bank Plc led market activities with 160.995 million shares valued at N531.392 million, Transnational Corporation of Nigeria followed with 135.695 million shares valued at N847.536 million, Fidelity Bank traded 57.622 million shares worth N403.333 million, FTNCocoa sold a total of 47.177 million shares cost N97.395 million while Dangote Sugar exchanged 28.858 million shares cost N1.600 billion.

Nigeria’s equity market records N185bn gain

Nigeria’s equity market concluded Tuesday on a positive trajectory, with an impressive gain of N185 billion. This surge was largely attributed to the upward movements in the shares of Flour Mill Nigeria Plc, Dangote Sugar Refinery, Nahco, and other notable companies. Market capitalization of listed equities surged by 0.51%, reaching N36.390 trillion compared to the N36.205 trillion recorded on the previous day, Monday. The NGX All Share Index exhibited growth as well, ascending by 338.96 basis points to attain 66490.34 points from the 66151.38 points registered on the prior day. In-depth analysis of the day’s trading activities reveals Flour Mills Nigeria Plc and Champion Breweries leading the gainers’ table, both achieving a 10% increase to conclude at N33.00 and N3.19 per share respectively. Nascon followed closely, recording a gain of 9.96% to settle at N54.10 per share. Dangote Sugar Refinery marked a 9.95% growth, reaching N57.45 per share, while Nahco clinched a 9.95% increase to close at N22.10 per share. However, on the downside, CWG and Linkage Assurance stood as the top losers for the day, experiencing a decline of 10% each, concluding at N4.05 and N0.90 per share respectively. Chellaram’s value dropped by 9.855%, closing at N3.57 per share, while Prestige Insurance recorded a 9.80% decrease, settling at N0.46 per share. UPL also experienced a downturn of 9.66%, ending at N2.15 per share. The volume of shares traded surged by 125.84 million, marking a 40.45% increase. Investors participated in the trading of 436.956 million shares valued at N7.013 billion across 7932 deals. This figure compared to the previous day’s 311.116 million shares worth N3.915 billion traded in 7193 deals. FBN Holdings Plc took the lead in market activities, with the trading of 55.146 million shares valued at N911.206 billion. Japaul Gold followed suit with 33.110 million shares worth N29.922 million, and United Bank for Africa traded 30.176 million shares at N412.171 million. Additionally, AccessCorp exchanged 25.354 million shares for N414.374 million, while Transnational Corporation of Nigeria traded 18.219 million shares valued at N127.717 million.