Good News for Investors As Stock Market Closes With N1 trillion Gain
- The Nigerian Exchange recorded a positive note, extending gains as investors sustained interest in key blue-chip stocks
- Custodian Investment Plc, Oando Plc, Nigerian Aviation Handling Company Plc, NCR Nigeria Plc, and Zenith Bank Plc led the gainers’ table
- The losers’ table included Austin Laz & Company Plc, Northern Nigeria Flour Mills Plc, Transcorp Hotels Plc, and Learn Africa Plc
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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 equities market closed trading on a bright note, extending the gains recorded in the previous session.
Data from NGX showed that the All-Share Index (ASI) rose 1.08% to close at 146,981.17 points on Thursday, November 13, up from 145,403.83 points on Wednesday.
Source: Getty Images
Market capitalisation also increased by N1 trillion to close at ₦93.48 trillion, while the year-to-date (YTD) return rose to 42.80%.
Top 5 gainers
- Linkage Assurance Plc rose by N0.16, from N1.60 to N1.76 per share (+10.00%).
- Custodian Investment Plc gained N3.50, from N35.00 to N38.50 per share (+10.00%).
- Oando Plc advanced by N3.95, from N39.60 to N43.55 per share (+9.97%).
- Legendary Investments Plc added N0.52, from N5.22 to N5.74 per share (+9.96%).
- Nigerian Aviation Handling Company Plc (NAHCO) rose by N9.65, from N96.90 to N106.55 per share (+9.96%).
Top 5 Losers
- Austin Laz & Company Plc declined by N0.26, from N2.61 to N2.35 per share (-9.96%).
- Union Dicon Salt Plc fell by N0.75, from N7.75 to N7.00 per share (-9.68%).
- Lotus Hal15 Plc dropped by N7.45, from N92.80 to N85.35 per share (-8.03%).
- Sterling Bank Plc lost N0.45, from N7.75 to N7.30 per share (-5.81%).
Source: Getty Images
Volume and value contribution
- Wema Bank Plc recorded the highest trading volume with 98,434,830 units.
- United Bank for Africa Plc followed with 52,971,236 units.
- Access Holdings Plc traded 50,886,902 units.
- Fidelity Bank Plc traded 41,198,563 units.
- Zenith Bank Plc traded 40,768,870 units.
In terms of value, Zenith Bank Plc was the most traded stock, with a total value of ₦2.63 billion, followed by Stanbic IBTC Holdings Plc and United Bank for Africa Plc.
Naira reverses gain
Earlier, Legit.ng reported that the naira depreciated against the United States dollar on Wednesday, November 12, in the Nigerian official exchange market.
According to the Central Bank of Nigeria's latest update, the naira on Wednesday slipped to a 10-day low of N1,443.08 per dollar.
The currency last traded below this level on October 29, 2024, when it closed at N1,444.42 per dollar.
The latest figures indicate that the naira fell by N4.37 or 0.3% from N1,438.71 on Tuesday, and it marked its third straight day of losses as dollar demand inched higher.
Source: Legit.ng
