Business and Economy

Nigerian stock market gain 0.17% (N63.52 billion) on Wednesday

The Nigerian stock market recovered today from the loss of yesterday, gaining 0.17% to finish at 67,100.49 points. The year-to-date (YTD) return increased to 30.93% as a result, and the market capitalization increased by N63.52 billion to close at N36.86 trillion.

Investor enthusiasm in industrial heavyweight BUACEMENT (+2.32%), coupled with UBA (+0.58%), FLOURMILL (+0.47%), and ZENITHBANK (-0.63%), offset significant selloffs in Tier-1 banks GTCO (-1.82%), ACCESSCORP (-0.32%), and pushed the broader index into positive territory.

Trade turnover was lower than it was on Tuesday, with a 42.86% decrease in transaction value. 5,637 transactions involving 410.32 million shares worth N4.46 billion were completed. With 163.20 million units exchanged, NEIMETH (-4.22%) dominated the volume charts, and ZENITHBANK (-0.63%) lead the value charts with transactions totaling 1.02 billion. On the leader’s log, CORNERST (+6.45%) outperformed fourteen (14) rivals, while OANDO (-8.08%) outperformed twelve (12) rivals.

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