Business and Economy

Investors gain N142 billion as stock market index rose 0.49% to close at 53,499.68 points on Wednesday

The Nigerian stock market NGX All-Share index rose 0.49% on Wednesday to close at 53,499.68 points. As a result market capitalization increased by 142.17 billion to close at N29.14 trillion. The year-to-date (YTD) return for the ASI increased to 4.39.

Trade turnover was however lower when compared to Tuesdays results with a 6.13% decrease in transaction value. At the end of trading activities, a total of 3,716 transactions involving 200.37 million shares worth N5.52 billion were completed by investors.

The market remained bullish due to investor interest in NESTLE (+1.84%), ZENITHBANK (+2.00%), and GTCO (+0.40%). With 16.61 million units exchanged, GTCO (+0.40%) dominated the volume chart, while GEREGU (+8.47%) won the value chart with transactions totaling 1.64 billion. On the gainer’s table, SEPLAT (+10.00%) outperformed thirteen (13) other competitors, while GUINNESS (-10.00%) was in first place among thirteen (13) other competitors.

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