Investors gain N364 billion as Nigerian stock market closes positive
The Nigerian equities market closed bullish on Wednesday, leading to N364 billion gains for investors.
The positive performance was driven by the release of full-year 2024 financial results from listed companies.
Specifically, the market capitalisation, which opened at N64.156 trillion, added 364 billion or 0.57 per cent to close at N64.520 trillion.
The All-Share Index also gained 0.57 per cent or 591 points, to settle at 104,549.74, against 103,958.75 recorded on Tuesday.
As a result, the Year-To-Date (YTD) return rose to 1.58 per cent.
In spite of the overall positive sentiment, market breadth closed negative, with 38 losers and 27 gainers.
On the losers side, McNichols and Caverton led by 10 per cent each to close at N1.44 and N2.07 per share, respectively.
Thomas Wyatt lost 9.80 per cent to close at N1.84, Veritas Kapital shed 9.79 per cent to close at N1.29 and Consolidated Hallmark Plc dropped nine per cent to close at N2.73 per share.
Conversely, Aradel led the gainers’ chart by 10 per cent to close at N594, and Chellarams Plc trailed by 9.98 per cent to close at N5.40 per share.
Stanbic IBTC gained 9.92 per cent to close at N71.45, UPL increased by 9.64 per cent to close at N5.12 and Daar Communications advanced by 9.09 per cent to close at 84k per share.
Trading activity remained robust, as the amount of total value of trade on the Exchange went up by 9.99 per cent.
Investors traded a total of 421.62 million shares, in value of N15 billion, across 16,256 deals, compared with 542.23 million shares valued at N13.636 billion exchanged in 15,561 deals posted previously.
Meanwhile, Universal Insurance led the activity chart with a volume of 33.6 million shares, while Aradel Holdings led with a value of N6.3 billion.
(NAN)
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