Nigerian stock market recovers and gain N440 billion on Wednesday

The Nigerian Stock Market recovered from Tuesday’s loss, posting gains as the All Share Index increased by 1.33% to settle at 61,523.57 points. As a result, the market capitalization increased by N440.38 billion to close at N33.50 trillion, and the year-to-date (YTD) return increased to 20.04%.

Index heavyweights MTNN (+0.37%), BUACEMENT (+9.44%), and ZENITHBANK (+0.59%) saw increased demand, which was the main reason for the overall index’s good performance.

Trade turnover decreased in comparison to the Tuesday with a 15.59% decrease in transaction value. In all a total of 9,815 transactions totaling 846.32 million shares worth N10.31 billion were completed. FBNH (+3.35%), which traded 89.24 million units for deals totaling N1.65 billion, topped the volume and value charts. On the gainer’s log, JAPAULGOLD (+9.52%) led 27 other companies, while NEM (-10.00%) led 22 other companies on the laggard’s table.