Business and Economy

Nigerian stock market gains 0.70% (N313.39 billion) on Thursday

The Nigerian stock market today witnessed a gain of 0.70% to closed at 82,597.04 points. As a result, the market remained in the green zone, indicating a promising week ahead. The year-to-date return also improved to 10.46%, and the market capitalization increased by ₦313.39bn to reach ₦45.20trn.

The positive performance was driven by the rise in MTNN (+0.35%), BUACEMENT (+0.54%), and ZENITHBANK (+1.99%), which outweighed the losses in VITAFOAM (-0.21%), CORNERNST (-3.33%), and LINKASSURE (-3.33%).

Trade turnover declined when compared to the Wednesday session with the value of transactions declining by 43.20%. A total of 877.28 million shares, valued at ₦14.41bn, were exchanged in 14,919 deals. TRANSCORP (+4.12%) led the volume chart with 74.54 million units traded, while ZENITHBANK (+1.99%) topped the value chart with deals worth ₦1.98bn. ROYALEX (+10.00%) emerged as the top gainer among forty-four others on the leader’s table, while ABBEYBDS (-9.90%) led twenty-one others on the laggard’s log.

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