Business and Economy

Nigerian stock market closes positive with 0.40% gain on Wednesday

The Nigerian stock exchange ended the day on a positive note, with the all share index rising by 0.40% to finish at 99,591.64 points. Strong investor interest in TRANSPOWER (+9.99%), FBNH (+9.95%), and TRANSCORP (+9.96%) offset losses in GTCO (-0.84%), ZENITHBANK (-4.23%), and UBA (-0.23%), resulting in overall market gains. As a result, the year-to-date return increased to 33.19%, while market capitalization rose by ₦226.83tn to close at ₦56.31tn.

Trade turnover however decreased when compared to the previous session, with transaction value declining by 38.63%. A total of 416.48m shares valued at ₦19.51bn were traded in 9,338 deals. TRANSCORP (+9.96%) led in terms of volume with 67.34m units traded, while TRANSPOWER (+9.99%) dominated the value chart with transactions worth ₦11.78bn. IKEJAHOTEL (-10.00%) was at the top of the list of twenty-eight (28) losers, while TRANSPOWER (+9.99%) led among seventeen (17) gainers.

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