Business and Economy

Nigerian stock market gains 2.04% (N846.37 billion) on Wednesday

Today, the bullish sentiment continued on the Nigerian stock market as the All-Share Index rose by 2.04% to close at 77,537.57 points.. As a result, this led to a rise in the year-to-date return to 3.70%, and the market capitalization gained ₦846.37bn, closing at ₦42.43trn.

Despite losses suffered by the likes of NGXGROUP, MANSARD, and CADBURY, gains in Tier-1 banks such as ZENITHBANK, GTCO, and STANBIC kept the market in the green. DANSUGAR topped the leader’s table among sixty-six others, while LEARNAFRCA led six others on the laggard’s log.

Trade turnover was higher compared to the previous session, with the value of transactions increasing by 91.83%. A total of 927.56m shares, valued at ₦10.69bn, were exchanged in 11,629 deals. FIDELITYBK led the volume chart with 108.11m units traded, while UBA led the value chart with deals worth ₦1.54bn.

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