Nigeria’s Stock Market Rises by 0.18% After Public Holidays, 5 Companies Lead Gainers Table

• The Nigerian Exchange has continued its good performance after the holiday, as investors make more money
• In the last trading day, DAAR Communications Plc, Berger Paints Plc, and Omatek Ventures Plc were among the gainers
• Key drivers of the day’s volume and value were Access Holdings, Zenith Bank, and Guaranty Trust Holding Company (GTCO)

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 opened the holiday-shortened trading week on a positive note, advancing by 0.18% at the close of trading on Tuesday, June 10.

Data from Nigerian Exchange Limited (NGX) showed that the benchmark All-Share Index (ASI) rose from 112,781.73 points in the previous session to 114,820.88 points.

Investors made approximately N779 billion in gains, as reflected by the increase in market capitalisation from N71.118 trillion to N71.897 trillion.

Trading activity was also robust. In 23,978 deals, investors exchanged 652.64 million shares worth N18.88 billion.

Top 5 gainers

• DAAR Communications Plc rose by N0.06, increasing from N0.60 to N0.66 per share (+10.00%).
• Berger Paints Plc gained N2.05, moving from N20.50 to N22.55 per share (+10.00%).
• eTranzact International Plc appreciated by N0.60, climbing from N6.00 to N6.60 per share (+10.00%).
• Legendary Investments Plc advanced by N0.53, rising from N5.34 to N5.87 per share (+9.93%).
• Omatek Ventures Plc added N0.06, up from N0.73 to N0.79 per share (+8.22%).

Top 5 decliners:

• R.T. Briscoe Nigeria Plc dropped by N0.25, falling from N2.50 to N2.25 per share (-10.00%).
• John Holt Plc declined by N0.75, decreasing from N7.60 to N6.85 per share (-9.87%).
• Beta Glass Plc lost N22.55, moving from N232.65 to N210.10 per share (-9.69%).
• Aradel Holdings Plc fell by N50.00, dropping from N550.00 to N500.00 per share (-9.09%).
• DEAP Capital Management & Trust Plc shed N0.08, down from N0.98 to N0.90 per share (-8.16%).

Top 5 trades by volume:

• Access Holdings Plc recorded 88,298,615 shares valued at N1,970,794,552.10.
• Zenith Bank Plc saw 49,330,444 shares exchanged, amounting to N2,519,487,066.20.
• Guaranty Trust Holding Company Plc registered 47,249,851 shares worth N3,342,370,672.10.
• Fidelity Bank Plc traded 42,924,591 shares valued at N844,839,209.60.
• Wapic Insurance Plc posted 34,997,697 shares, with a total value of N70,562,268.53.

Dangote refinery applies to list on NGX

Earlier, Legit.ng reported that Dangote refinery has indicated interest in listing on the Nigerian Stock Exchange and giving Nigerians an opportunity to buy in.

The NGX chairman, Umaru Kwairanga, confirmed that the refinery had already applied and commenced the listing process.

Kwairanga hailed the move, noting that it would help to further expand the Nigerian bourse and give more people the opportunity to invest in the company.

Source: Legit.ng