Nigeria’s Stock Market Records Highest Daily Gain As Investors Make Over N1trn
- The Nigerian stock market on Monday recorded a poor performance as investors lost N297 billion
- Data showed that the Nigerian Exchange Limited (NGX) All-Share Index (ASI) surged by 1.63% from the previous day
- Fidelity Bank Plc, Legendary Investments Plc, Zenith Bank Plc, Zenith Bank and the Guaranty Trust Holding Company Plc were mostly traded stocks
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s equities market improved further on Thursday, marking the fourth consecutive day of gains during the week.
The good performance was fueled by investor sentiment and significant buying interest in key stocks, including MTNN, Oando, and NGX Group.
Source: Getty Images
At the close of trading, the market recorded gain of approximately N1.16 trillion in market capitalisation, marking its highest daily rally this week.
While Year-to-date, the market increased by 11.36%, supported by a 2.57% rise.
The market last week was only a four-day trading week due to the public holidays to celebrate Eid-ul-Adha on Friday, June 6 and Monday, June 9.
How did the stock market perform?
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) surged by 1.63% from the previous day's low of 112,781.73 points to settle at 114,616.75 points.
Similarly, the Market capitalisation rose from N71.118 trillion to N72.275 trillion.
In total, investors exchanged 1,461,852,520 shares in 16,410 deals, valued at N33.473 billion.
How stock market perform on Monday?
Monday’s trading saw 414.57 million shares worth N10.72 billion exchanged in 16,664 deals. Tantalizers, VFD Group, Access Holdings, Zenith Bank, and AIICO Insurance ranked among the most actively traded stocks.
Top gainers
- Champion Breweries Plc gained N0.70, rising from N7.00 to N7.70 per share (+10.00%).
- Nigerian Exchange Group Plc gained N3.60, moving from N36.00 to N39.60 per share (+10.00%).
- MTN Nigeria Communications Plc rose by N29.00, climbing from N290.20 to N319.20 per share (+9.99%).
- Oando Plc gained N5.15, increasing from N51.70 to N56.85 per share (+9.96%).
- Morison Industries Plc gained N0.29, rising from N2.93 to N3.22 per share (+9.90%).
Source: Getty Images
Top losers
- Northern Nigeria Flour Mills Plc declined by N13.85, falling from N138.90 to N125.05 per share (−9.97%).
- ABC Transport Plc lost N0.26, decreasing from N2.66 to N2.40 per share (−9.77%).
- Legendary Investments Plc dropped N0.56, moving from N5.90 to N5.34 per share (−9.49%).
- Livestock Feeds Plc declined by N0.70, dropping from N8.95 to N8.25 per share (−7.82%).
- Omatek Ventures Plc lost N0.06, decreasing from N0.79 to N0.73 per share (−7.59%)
Top active trades
- Fidelity Bank Plc recorded a turnover of 829.73 million shares valued at N15.97 billion.
- Legendary Investments Plc traded 180.30 million shares worth N1.02 billion.
- Zenith Bank Plc exchanged 62.82 million shares valued at N3.13 billion.
- Japaul Gold and Ventures Plc traded 34.84 million shares, amounting to N69.60 million.
- Guaranty Trust Holding Company Plc recorded 30.91 million shares worth N2.16 billion.
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Source: Legit.ng
