Dangote Sugar Leads Top 5 Gainers As Nigerian Stock Market Hits New High
- The Nigerian stock market recorded another strong performance as investors made over N1 trillion
- Data showed that stocks like Oando, Dangote Sugar Refinery, CWG and other major gainers helped push the market
- Fidelity Bank, Caverton, Zenith Bank, Japaul Gold and Access Holdings 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 extended its rally on Wednesday, June 25, with the benchmark index crossing the 120,000-point mark for the first time.
Data from Nigerian Exchange (NGX) showed that the All-Share Index (ASI) surged by 1.22% to close at 121,257.69 points, gaining 1,466.87 points from the previous session’s 119,790.82.
Source: Getty Images
Market capitalisation also rose significantly to N76.76 trillion, up from N75.58 trillion, indicating that investors made N1.18 trillion.
The market’s year-to-date return climbed to 17.81%, while the month-to-date and week-to-date performances stood at 8.52% and 2.64%, respectively.
Here is a snapshot of the stock market on Wednesday
At the end of trading, investors in 22,896 deals exchanged 861,670,987 shares worth N26.176 billion.
The market was driven by strong buying interest in stocks like Oando, Dangote Sugar Refinery, CWG, and other major gainers.
Top gainers
- Dangote Sugar Refinery gained N4.40, rising from N44.00 to N48.40 per share (+10.00%).
- Oando gained N6.25, moving from N62.50 to N68.75 per share (+10.00%).
- Champion Breweries increased by N0.99, rising from N9.92 to N10.91 per share (+9.98%).
- C&I Leasing advanced by N0.47, moving from N4.71 to N5.18 per share (+9.98%).
- Computer Warehouse Group rose by N1.05, increasing from N10.55 to N11.60 per share (+9.95%).
Top losers
- University Press declined by N0.40, falling from N6.40 to N6.00 per share (−6.25%).
- RT Briscoe dropped N0.15, decreasing from N2.45 to N2.30 per share (−6.12%).
- Multiverse Mining and Exploration lost N0.45, moving from N9.20 to N8.75 per share (−4.89%).
- Meyer declined by N0.45, falling from N9.60 to N9.15 per share (−4.69%).
- Consolidated Hallmark Holdings shed N0.13, decreasing from N3.13 to N3.00 per share (−4.15%).
Source: Getty Images
Top active trades
- Fidelity Bank recorded a turnover of 82.98 million shares valued at N1.66 billion.
- Caverton traded 64.18 million shares worth N319.69 million.
- Zenith Bank exchanged 60.62 million shares valued at N3.45 billion.
- Japaul Gold recorded 56.26 million shares worth N115.35 million.
- Access Holdings traded 48.59 million shares, amounting to N1.12 billion
Access Bank buys another major bank
Earlier, Legit.ng reported that Access Bank Plc has fully acquired Standard Chartered Tanzania’s Consumer, Private, and Business Banking division
The move will now allow Access Bank to provide financial services to SMEs, women, and high-net-worth individuals.
Access Bank also announced that it has taken over Standard Chartered in the Gambia after 130 years of operations.
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Source: Legit.ng
