Stock market gains N443 billion amid renewed buying interests
The Nigerian stock market began the week on a positive note, as investors gained N443 billion amid renewed buying interest.
The rally was driven by increased demand for stocks such as NGX Group, Trans-Nationwide Express, MC Nichols, VFD Group, CHAMS, and 27 others.
Market capitalisation rose from an opening value of N131.165 trillion to close at N131.608 trillion, representing a gain of 0.34 per cent or N443 billion.
In the same vein, the All-Share Index advanced from 203,770.43 to 204,458.86, reflecting an increase of 688.43 points or 0.34 per cent.
This led to an increase in the Year-to-Date return to 31.39 per cent while the market breadth closed positive with 32 gainers and 24 losers.
NGX Group led the gainers’ chart by 10 per cent, closing at N153.45.
Trans-Nationwide Express trailed by 9.81 per cent, ending the session at N4.14.
MC Nichols soared by 9.74 per cent, settling at N7.10 per share. Also, VFD Group gained by 9.71 per cent, finishing at N11.30, and CHAMS increased by 8.96 per cent, closing at N3.65 per share.
On the other hand, Berger Paints topped the losers’ chart by 9.95 per cent, ending the session at N68.35. Academy followed by 9.71 per cent, finishing at N7.90, and Caverton Offshore Support Group dipped by 5.98 per cent, closing at N5.50 per share.
Similarly, Honeywell Flour shed 4.92 per cent, settling at N20.30, while CAP dipped 3.81 per cent, closing at N96 per share.
Trading activity declined at the close of the session, as total volume fell by 14.33 per cent to 470.01 million shares, valued at N32.45 billion across 60,793 deals.
Access Corporation led the volume chart with 54.91 million shares traded, representing 11.68 per cent of the day’s total volume.
Aradel topped the value chart with transactions worth N7.05 billion, accounting for 21.74 per cent of the total value traded.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Politics
ADC’s convention venue owner said Wike threatened to revoke his facility’s licence: Spokesman
“Lies upon lies. Just the usual noise for media attention. Did they give you any evidence on the claims?” Mr Olayinka said in a statement to the Peoples Gazette on Tuesday.
States
Environmentalist advocates urgent action to tackle climate change
Environmentalist Newton Jibunor has stressed the urgent need for environmental protection and coordinated climate action in Nigeria.
States
188 suspected criminals nabbed, 12 kidnap victims rescued in Katsina: Police
The police command in Katsina says it arrested 188 suspects linked to various criminal activities and rescued 12 kidnapped victims in March.
Politics
APC gains from opposition parties’ internal conflicts in Kebbi: Spokesperson
All three senators from Kebbi who won elections on the PDP platform, as well as members of the House of Representatives, have defected to the APC.
Economy
IEA, IMF, World Bank reaffirm support for countries hit by U.S.-Iran war
The heads of the IEA, the IMF, and the World Bank Group have committed to ensuring a resilient recovery for member countries affected by the Middle East crisis.
World
Germany adopts school-based strategy to combat disinformation
The initiative targets children, teenagers, parents, and professionals, equipping them with skills to identify and counter false information, especially in the digital space.
