The Nigerian Exchange Limited (NGX) on Thursday extended its upward trends as demand for Nigerian stocks hit a record high.
Investors traded 1.140 billion shares worth N19.293 billion in 17,804 deals during the trading hours of Thursday.
The NGX All-share index gained 2.04% to close the day at 91,896.97 index points while market capitalisation also extended by 2.04% to settle at N50.289 trillion, the highest in decades.
“The bulls have continued to dominate market activity this year,” said Lagos-based Vetiva Research analysts. However, this was due to a series of policy changes by the current administration.
President Bola Ahmed Tinubu removed subsidies to up the nation’s fiscal buffet and unpegged the local currency to allow for a free market, decisions that businesses and investors alike had embraced.
Still, there would be some corrections given what is going on with the global oil prices and the slowdown in China, Nigeria’s largest importing nation.
Top Fiver Gainers
| Symbols |
Last Close |
Current |
Change |
%Change |
| CONOIL |
N 102.00 |
N 112.20 |
10.20 |
10.00 % |
| JOHNHOLT |
N 2.30 |
N 2.53 |
0.23 |
10.00 % |
| UNITYBNK |
N 3.00 |
N 3.30 |
0.30 |
10.00 % |
| NEM |
N 7.50 |
N 8.25 |
0.75 |
10.00 % |
| ETERNA |
N 19.00 |
N 20.90 |
1.90 |
10.00 % |
Top Fiver Losers
| Symbols |
Last Close |
Current |
Change |
%Change |
| IKEJAHOTEL |
N 8.99 |
N 8.11 |
-0.88 |
-9.79 % |
| ROYALEX |
N 0.92 |
N 0.83 |
-0.09 |
-9.78 % |
| MBENEFIT |
N 0.94 |
N 0.85 |
-0.09 |
-9.57 % |
| LINKASSURE |
N 1.49 |
N 1.35 |
-0.14 |
-9.40 % |
| JAPAULGOLD |
N 2.68 |
N 2.43 |
-0.25 |
-9.33 % |
Top Five Trades
| Symbols |
Volume |
Value |
| TRANSCORP |
156620716.00 |
2960518597.31 |
| UNIVINSURE |
114548986.00 |
55576537.54 |
| VERITASKAP |
69413395.00 |
47325820.84 |
| JAIZBANK |
65865111.00 |
243887578.15 |
| GTCO |
63442541.00 |
2884108008.60 |