Stock Market Rises by N82bn After Consecutive Sessions of Negatives
- Nigerian stock investors gained N82 billion in one day after consecutive days of poor performance
- The gainers' table was led by Academy, Redstarex, and Neimeth, while the losers' table was led by UPDC and Academy
- Stocks like Tantalizer, Accesscorp, Zenith Bank, Guaranty Trust CO, and Univinsure were actively traded
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market recorded an upward movement on Thursday, March 13 after two consecutive sessions of negatives.
Data shows that investors bought mostly consumer goods, insurance and oil and gas stocks as the market value rose by about N82 billion.
Also, the Nigerian Exchange all-share index increased by 130.56 points or 0.12% despite sell pressure on banking counters.
Source: Facebook
At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation rose from the previous trading day's lows of 106,090.38 points and N66.436 trillion to 106,220.62 points and N66.518 trillion.
Details on how the stock market performed
In 11,233 deals, investors exchanged 341,708,437 shares worth N16.654 billion.
Tantalizers, Access Holdings, Zenith Bank, GTCO and Universal Insurance were actively traded stocks on Thursday, BusinessDay reports.
Source: Getty Images
Here is a snapshot of the market activities.
Gainers list
- UPDC Plc rose from N2.52 to N2.77, gaining N0.25 (9.92%).
- International Breweries Plc increased from N5.20 to N5.70, up N0.50 (9.62%).
- Royal Exchange Plc advanced from N0.73 to N0.80, adding N0.07 (9.59%).
- Multiverse Mining and Exploration Plc climbed from N7.95 to N8.65, gaining N0.70 (8.81%).
- Nigerian Exchange Group Plc rose from N30.95 to N32.85, up N1.90 (6.14%).
Losers list
- University Press Plc declined from N4.80 to N4.32, losing N0.48 (-10.00%).
- Academy Press Plc fell from N2.90 to N2.62, down N0.28 (-9.66%).
- Red Star Express Plc dropped from N5.90 to N5.35, decreasing by N0.55 (-9.32%).
- Neimeth International Pharmaceuticals Plc declined from N3.00 to N2.75, losing N0.25 (-8.33%).
- C&I Leasing Plc fell from N4.00 to N3.81, down N0.19 (-4.75%).
Top active trades
- Tantalizers Plc traded 29,621,241 shares, valued at N98,007,297.82.
- Access Holdings Plc recorded a volume of 29,164,721 shares, worth N693,280,468.80.
- Zenith Bank Plc saw 28,733,235 shares traded, amounting to N1,377,586,645.80.
- Guaranty Trust Holding Company Plc exchanged 26,685,418 shares, valued at N1,625,450,328.90.
- Universal Insurance Plc traded 20,948,838 shares, worth N12,161,031.84.
Femi Otedola’s brother sells N4.6bn Geregu Power shares
Legit.ng previously reported that the founder of the Afrinero music band and a brother of Nigerian billionaire, Femi Otedola, has sold his shares in Geregu Power Plc estimated at N4.6 billion.
A filing with the Nigerian Stock Exchange shows Rotimi sold four million shares at N1,150 per share on February 6, 2025.
The sale reportedly marks a significant step in his investment portfolio.
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Source: Legit.ng
