Business and Economy

Nigeria stock market rebounds and gains 0.27% on Tuesday

Following a recovery from the previous session’s losses, the Nigerian stock market experienced gains as the benchmark index increased by 0.27% to reach a closing point of 98,225.63. The renewed demand for index heavyweight stocks such as MTNN (+3.96%), ZENITHBANK (+2.56%), and FBNH (+6.95%) outweighed the losses incurred by ACCESSCORP (-0.59%), WAPCO (-8.75%), and DANGSUGAR (-9.95%), resulting in a positive market performance. As a result, the year-to-date (YTD) return rose to 31.36%, and the market capitalization increased by ₦149.10bn to close at ₦55.55trn.

An analysis of today’s market activities revealed that the trade turnover was higher compared to the previous session, with the value of transactions increasing by 193.52%. A total of 552.21m shares, valued at ₦14.92bn, were exchanged in 9,350 deals. GTCO (+0.00%) emerged as the leader in terms of both volume and value, with 245.46m units traded in deals worth ₦7.95bn. NAHCO (+10.00%) secured the top position among twenty-five other stocks on the leader’s table, while DANGSUGAR (-9.95%) led seventeen other stocks on the laggard’s log.

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