Business and Economy

NGX All-Share Index gains 0.47% on Wednesday

The Nigerian stock market NGX All-Share Index rose by 0.47% to reach 104,007.36 points on Wednesday. Strong interest in telecom giant MTNN (+2.26%), TRANSPOWER (+0.58%), and GTCO (+3.26%) offset the declines in FBNH (-1.32%), TRANSCORP (-2.94%), and NB (-0.51%), keeping the market in positive territory. The year-to-date return increased to 39.10%, while market capitalization added ₦273.12bn to close at ₦58.81trn.

Trade turnover decreased compared to Tuesday’s session, with transaction value dropping by 35.93%. A total of 326.95m shares valued at ₦9.12bn were traded in 9,570 deals. TRANSCORP (-2.94%) led the volume chart with 38.95m units exchanged, while NESTLE (+0.00%) led in terms of value with transactions worth ₦1.50bn. ETI (+10.00%) topped the list of gainers, while SKYAVN (-10.00%) led the decliners.

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