The Nigerian Exchange Limited (NGX) closed in the green on Wednesday as market capitalization grew by N63 billion.
Transcorp led the charge with a 5.41% increase while BUA Cement, Flour Mill, and 15 other companies also contributed to the market’s gains.
As a result, both the market capitalization and the All-Share Index climbed by 0.17%, closing at N38.864 trillion and 67,100.49, respectively.
Trading activity was positive as over 410.32 million shares were exchanged in 5,637 deals, a 59% increase in traded shares.
Interestingly, the total value of shares transacted on the NGX saw a 42.86% dip compared to the previous trading day, highlighting investors’ focus on volume over value.
In the ongoing battle between bulls and bears, the bulls took a slight lead, with 18 gainers prevailing over 17 losers. Notably, Thomas Wyatt, a paper production company, emerged as the top gainer with an impressive 9.81% increase.
Flour Mills of Nigeria announced a final dividend of N2.25k per share, further boosting investor confidence.
These developments mark a positive outlook for the Nigerian stock market and underscore its potential for growth in the coming days.
Year-to-date returns expanded to 32.06%.
