Nigerian Stock Market Records Slight Gain of N8bn on Thursday

The Nigerian stock market recorded a marginal gain of N8 billion on Thursday, February 17, 2023, as the market capitalisation rose slightly to N29.696tn at the close of trading on the Nigerian Exchange Limited (NGX).

The All-share Index also appreciated by 0.02 per cent to close at 54,520.2 points, Investors King reports.

The positive trading session was led by TrippleG, which led 17 gainers including RTBriscoe, Japaul Gold, LivingTrust, VeritaSkap, Honyflour, and Geregu (BLS).

However, the losers’ table was topped by Courtville, followed by CWG, the NGX Group, Wapic, Fidelity Bank, and Transcorp at the end of Thursday’s trading session.

A total of 125,860,855 million shares were traded in 2,670 deals, estimated at N3.602bn. Zenith Bank emerged as the most active stock with 8,441,601 million of its shares worth N214,56m traded in 180 deals.

GTCO’s shares of 19,173,469 million units, priced at N481.722m, exchanged hands in 175 transactions. MTN Nigeria had 318,974 shares valued at N77.379m traded in 151 deals. WAPCO also traded 4,158,679 million shares estimated at 108.96 million in 149 transactions.

The slight gain recorded in the stock market is a reflection of the continuous efforts by the government and private sector to boost the economy through various measures. The stock market remains a viable investment option for individuals and businesses looking to grow their wealth and make profitable returns.

Investors and market analysts have expressed optimism about the future of the Nigerian stock market, as it continues to attract local and foreign investors, with more companies getting listed on the exchange. As such, investors are advised to take advantage of the current positive trading momentum to position themselves for future gains.