Business and Economy

Nigerian stock market crosses 90,063 points as the ASI gains 2.38% on Wednesday

The Nigerian stock market today hit an all time high of 90,063.27 as the NGX All-Share Index gained 2.38%. As a result, the year-to-date return rose to 20.45% and the market capitalization increased by ₦1.14trn to close at ₦49.28trn.

The market was driven by strong buying interest in major industrial companies such as DANGCEM, BUACEM, and GEREGU, which saw significant increases in their stock prices. This positive momentum outweighed the selling pressure on stocks like ZENITHBANK, GTCO, and DANGSUGAR.

Trade turnover was also higher compared to Tuesday’s session with the value of transactions increasing by 3.89%. A total of 1.30bn shares valued at ₦16.38bn were exchanged in 17,471 deals. STERLINGNG led the volume chart with 106.14m units traded, while NB led the value chart with deals worth ₦2.02bn. GUINNESS emerged as the top gainer among 43 others on the leader’s table, while RTBRISCOE led 34 others on the laggard’s log.

Leave a Reply