Business and Economy

Nigerian stock market gains 1.76% on Wednesday

The Nigerian stock market experienced gains today as the benchmark All Share index increased by 1.76% to reach a closing point of 103,498.28. The positive performance was driven by significant gains in AIRTELAFRI (+10.00%), GEREGU (+6.72%), and ZENITHBANK (+2.82%), which outweighed the losses in BUACEMENT (-9.91%), GTCO (-0.63%), and TRANSCORP (-0.78%). As a result, the market remained in the green zone. The year-to-date return also saw an increase to 38.42%, and the market capitalization rose by ₦979.78bn to close at ₦56.63trn.

Trade turnover was also higher compared to Tuesday’s session with transaction values rising by 181.51%. A total of 426.86m shares, valued at ₦12.11bn, were exchanged in 8,654 deals. FBNH (+9.90%) led the volume chart with 54.61m units traded, while GEREGU (+6.72%) topped the value chart with deals worth ₦2.50bn. AIRTELAFRI (+10.00%) emerged as the top performer among twenty-five others on the leader’s table, while MECURE (-10.00%) led twenty-four others on the laggard’s log.

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