Nigerian Stock Exchange Extends Gain by 0.06% on Wednesday as Market Cap Hits 30.4 Trillion

The Nigerian Equities Market closed positive as bulls raised the market’s overall value by 6 basis points on Wednesday to sustain positive sentiment across the Exchange following the inauguration of Bola Ahmed Tinubu.

The new president of Nigeria had promised to rejig the economy and force tough changes across the length and breadth of the nation.

Being the final trading day of the month, the All-share Index (ASI) rose by 0.06% to close at 55,769.29 points, showing gains of 5.98% over the previous week, 6.64% over the previous four weeks, and 8.82% over the entire year.

A total of 117 NGX listed securities participated in trading on the market, with 29 gainers and 39 losers at the close. With a share price increase of 10%, McNichols led the gainers, finishing at N0.77 per share. Veritas Kapital Assurance was up by 10%, Jaiz Bank was up by 10%, and Conoil was up by 9.96%.

On the losing side, National Salt Company finished last with a 9.79% price decline at the day’s conclusion to close at N15.20 per share. RT Briscoe was next with a 9.76% decline while Glaxo Smithkline Consumer ended the day with a 9.58% decline, and Caverton Offshore Support Group followed with a 9.35% decline.

With a total of 98.7 million shares traded, Access Holdings had the most activity, followed by United Bank for Africa (90.2 million), Zenith Bank (44.5 million), and Guaranty Trust Holding (39.6 million).

NGX Banking, NGX Consumer Goods, NGX Oil and Gas, NGX Insurance and NGX Industrial indexes posted -2.46%, +2.08%, +1.63%, -2.52% and -0.19%, respectively. Other remarkable indices that performed were the NGX Top 30 Index (-0.07% Day Change; +6.34% One Week; +9.69% Year To Date), NGX Top 50 Index (-1.23% Day Change; +6.31% One Week; +16.46% Year To Date) and NGX Main Board Index (+0.36% Day Change; +4.43% One Week; +3.91% Year To Date).

A total of 661,509,042 shares were exchanged in 10,024 transactions for a market value of N18,998,227,156.83. Data reveals a 39% reduction in volume, a 20% improvement in turnover, and a 1% improvement in deals when compared to the prior NGX trading day. The Nigerian Stock Exchange now has a market value of N 30.4 trillion.