Business and Economy

Nigerian stock market rebounds on Wednesday, gaining 0.32%

The Nigerian stock market experienced gains as the benchmark index increased by 0.32% on Wednesday, reaching a closing point of 104,283.64. The market remained in a positive state due to sustained interest in GTCO (+5.69%), ZENITHBANK (+8.78%), and UBA (+4.32%), despite losses in MTNN (-0.48%), TRANSPOWER (-0.53%), and FBNH (-3.84%). As a result, the year-to-date return rose to 39.47%, and the market capitalization gained ₦187.24bn, closing at ₦58.96trn.

Trade turnover was higher compared to tuesday session, with transaction values increasing by 9.92%. A total of 499.71bn shares, valued at ₦12.41bn, were exchanged in 10,260 deals. ACCESSCORP (+3.90%) led the volume chart with 83.60m units traded, while GTCO (+5.69%) led the value chart with deals worth ₦2.52bn. CWG (+10.00%) emerged as the top performer among twenty-five others on the leader’s table, while NNFM (-9.97%) led nineteen others on the laggard’s log.

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