Business and Economy

Stock market investors gain N264.29 billion on Thursday

Investors on the Nigerian stock market gained N264.29 billion on Thursday as the All Share Index went up by 0.62% to close at 78,020.54 points. This positive momentum indicates that the market is set for another week of gains. The year-to-date return rose to 4.34%, and the market capitalization increased by ₦264.29bn to close at ₦42.69trn.

Tier-1 banks such as ZENITHBANK (+0.86%) and GTCO (+1.20%) saw increased buying interest, along with DANGSUGAR (+4.43%), which offset losses in STANBIC (-1.44%), UBA (-2.10%), and ACCESSCORP (-3.47%).

Trade turnover compared to Wednesday session, with the value of transactions increasing by 4.40%. A total of 984.19m shares valued at ₦11.16bn were exchanged in 12,976 deals. FCMB (+7.88%) led the volume chart with 106.81m units traded, while FIDELITYBK (+6.80%) led the value chart with deals worth ₦1.31bn.

WEMABANK (+10.00%) emerged as the top gainer among forty-six others on the leader’s table, while MULTIVERSE (-9.97%) led twenty-one others on the laggard’s log.

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