Nigerian Exchange Limited’s Capitalization Soars by N63 Billion

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%.