Business and Economy

Nigerian stock market gains further 0.55% (N214.80 billion) on Wednesday

The Nigerian stock market performed well on Wednesday as the All-Share Index further rose by 0.55% to close at 72,299.26 points. Consequently, market capitalization increased by ₦214.80bn to end at ₦39.56trn, and the year-to-date (YTD) return increased to 41.07%.

Investor losses in DANGSUGAR (-0.61%), FLOURMILL (-4.57%), and UNILEVER (-2.01%) were offset by investor interests in Tier 1 banks, specifically ZENITHBANK (+2.54%), GTCO (+1.01%), and UBA (+3.45%).

Trade turnover settled at a greater level than it did on Tuesday with a 37.40% increase in transaction value. 6,650 transactions totaling 433.18 million shares valued at ₦8.08 billion were completed. With 60.18 million units traded, ACCESSCORP (+8.09%) topped the volume chart, while GTCO (+1.01) topped the value chart with trades totaling ₦1.96 billion. UPL (-9.82%) led fourteen (14) people on the laggard’s log, while SCOA (+9.88%) topped thirty-three (33) others on the leader’s table.

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