Stock Market Recovers as Investors Gain N107bn

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On Wednesday, the Nigerian Exchange Limited recovered as investors made N107 billion. On Tuesday, the market experienced a loss of around N1 billion.

The market capitalization and All-Share index both increased by 0.35 percent to 55,801.14 and N30.397tn, respectively.

The ASI had advanced 4,205.48 points since the start of the year, and the year’s total returns had reached 8.15 percent.

Volume-wise, 3,293 deals totaling 152,742,743 million shares for a value of N3.572 billion were executed on the exchange’s trading floor.

As 18 firms saw their share prices rise and 18 equities saw their value decline, the market’s activity was flat.

With gains of 9.88%, 8.50%, and 7.69% to end the market at N0.89, N2.17, and N0.28 per share, respectively, Trans Nationwide Express plc, Cutix, and FTN Cocoa were the top gainers.

At the close of trading, MRS led the losers’ table with a loss of 9.98% to close at N27.95. ABC Trans and Chams also experienced losses of 7.89% and 7.41%, respectively, to close at N0.35 and N0.25, respectively.

While 6,261,268 million shares of Zenith Bank, valued at N162.465 million, were traded in 249 deals, the Financial Services sector continued to dominate the NGX’s most active chart on Wednesday. With 12,749,020 worth N335.933 million traded in 227 transactions, GTCO came in second.

After the close of trading, MTN Nigeria shares were the third most actively traded stock on the NGX, with 189 trades involving 598,909 shares worth N148.903m.

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