Business and Economy

NGX All-Share Index gains 2.90% on Wednesday: The biggest single-day gain in a year!

For the fourth consecutive session, the Nigerian Stock Exchange maintained the winning streak as the benchmark index closed 2.90% stronger – the biggest single-day gain since 8 November 2021- to settle at 46,232.37 points, the highest level since 17 October. Industrial heavyweights, DANGCEM (+9.98%) and BUACEMENT (+9.72%) drove the market’s strong performance. As a result, the year-to-date (YTD) return rose to 8.23%, with the market capitalisation up by ₦709.73bn to close at ₦25.18trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 52.17%. A total of 187.91m shares valued at ₦1.84bn were exchanged in 3,458 deals. TRANSCORP (+6.09%) led the volume chart with 26.53m units traded while ZENITHBANK (+2.71%) led the value chart in deals worth ₦250.05bn.

Market breadth closed positive at a 3-to-1 ratio with advancing issues outnumbering declining ones. DANGCEM (+9.98%) topped twenty-three (23) others on the gainer’s table, while ETERNA (-4.76%) led seven (7) others on the laggard’s log.

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