NAIJATIPSLAND NEW LOGO TRANSPARENT
Register/Login
Submit Post
Submit Post
Stock Market rally continues as Investors gain ₦245bn
By Taiye Olayemi The Nigerian stock market extended its bullish run on Wednesday, adding ₦245 billion to investors’ wealth as renewed buying interest lifted key equities across several sectors. Stock Marketcapitalisation rose by 0.26 per cent, climbing from ₦95.280 trillion at the opening of trading to ₦95.525 trillion at the close. In the same vein, the All-Share Index (ASI) advanced by 383.71 points, or 0.26 per cent, to settle at 149,842.82, up from 149,459.11 recorded in the previous session. The rally was driven by strong gains in stocks such as Prestige Assurance, Veritas Kapital Assurance, First Holding Company, Lasaco Assurance, alongside 38 other equities that closed in positive territory. As a result of the sustained uptrend, the market’s year-to-date return improved to 45.58 per cent, while market breadth remained firmly positive with 42 gainers against 24 losers. At the top of the gainers’ table at the Stock Market, FG142037S2 surged by 44.44 per cent to close at ₦130. First Holding Company and Lasaco Assurance appreciated by 10 per cent each, finishing at ₦39.60 and ₦2.75 per share respectively. Veritas Kapital Assurance and Prestige Assurance also posted maximum gains of 10 per cent, closing at ₦1.76 and ₦1.65 per share. Conversely, Livingtrust Mortgage Bank led the losers with a 10 per cent decline to ₦3.15. International Energy Insurance followed closely, shedding 9.92 per cent to close at ₦2.27, while McNicholas lost 6.90 per cent to settle at ₦2.97 per share.   Omatek Ventures dropped by 6.84 per cent to ₦1.09, and CHAMS fell by 6.41 per cent to close at ₦2.92.   Trading activity also improved significantly, with investors exchanging 5.9 billion shares valued at ₦216.2 billion in 25,205 deals, compared with 1.03 billion shares worth ₦21.8 billion traded in 23,701 transactions in the previous session.   The News Agency of Nigeria reports that Ecobank Transnational Incorporated dominated the day’s trading, accounting for the highest volume and value, as 5.25 billion shares worth ₦168.66 billion changed hands during the session.  
Source link
We will be happy to hear your thoughts

Leave a reply