Business and Economy

Stock market gains 0.34% (N132.45 billion) on Wednesday

Stock market investors heaved a sigh of relief as the Nigerian stock market recovered from the losses of Tuesday to gain 0.34% and close at 71,284.56 points. Consequently, the market capitalization increased by ₦132.45bn to end at ₦39.01trn, and the year-to-date (YTD) return increased to 39.09%.

The broader index moved into positive territory thanks to renewed investor interest in SEPLAT (+10.00%), NESTLE (+9.52%), and TRANSCORP (+1.34%). On the laggard’s table, GUINEAINS (-10.00%) ranked first among 37 others, while SEPLAT (+10.00%) ranked first among 19 others on the leader’s log.

Trade turnover settled at a greater level than it did on Tuesday with a 17.64% increase in transaction value. 6,579 transactions totaling 360.60 million shares valued at ₦6.61 billion were completed. With deals worth ₦2.19bn and 56.91m units exchanged, GTCO (-0.13%) dominated the volume list.

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