Nigerian Stock Investors Gain N707bn as N31.5bn exchanged hands
- The Nigerian stock market closed mixed as gains in banking, consumer goods, and industrial stocks
- Transnational Express, International Breweries, and Guinness Nigeria led the gainers’ chart
- Market activity remained strong with over 548.6 million shares worth N31.5 billion 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 Exchange (NGX) Limited closed higher on Friday, April 10, rising by 0.30 per cent on sustained bargain hunting across key sectors.
Data from the NGX showed that on Friday, there was strong buying interest in consumer goods, industrial goods, and banking stocks, which supported the market, despite losses in the insurance and energy sectors.
Source: Getty Images
The market capitalisation rose by N707 billion to N131.166 trillion from N130.459 trillion, while the All-Share Index (ASI) gained 1,097.86 points to 203,770.42 points from 202,672.56 points.
Sector Performance
- NGX Banking Index rose by 0.64%
- NGX Consumer Goods Index gained 1.64%
- NGX Industrial Index increased by 1.12%
- NGX Insurance Index declined by 2.61%
- NGX Energy Index slipped by 0.01%
Top gainers
- Transnational Express rose from N3.43 to N3.77, gaining N0.34 (+9.91%)
- International Breweries advanced from N12.15 to N13.35, adding N1.20 (+9.88%)
- Chams climbed from N3.05 to N3.35, gaining N0.30 (+9.84%)
- Guinness Nigeria rose from N423.20 to N462.90, adding N39.70 (+9.38%)
- Lafarge Africa (WAPCO) gained from N214.90 to N233.20, up N18.30 (+8.52%)
Source: Getty Images
Top losers
- Omatek fell from N2.30 to N2.07, losing N0.23 (–10.00%)
- Austin Laz dropped from N4.43 to N3.99, losing N0.44 (–9.93%)
- Wapic Insurance declined from N3.24 to N2.92, shedding N0.32 (–9.88%)
- Zichis fell from N13.88 to N12.55, losing N1.33 (–9.58%)
- Cornerstone Insurance declined from N5.70 to N5.20, shedding N0.50 (–8.77%)
Market activity
A total of 548.6 million shares worth N31.5 billion were traded in 48,538 deals.
- Access Holdings: 52.7 million shares (N1.4 billion)
- Zenith Bank: 47.8 million shares (N5.4 billion)
- UBA: 38.9 million shares (N1.8 billion)
- Secure Electronic Technology: 36.7 million shares (N35.5 million)
- GTCO: 34.9 million shares (N4.6 billion)
Nigerian firm, Neveah redeems N2.923bn
Legit.ng earlier reported that Neveah Limited, a leading commodity trading company that exports solid minerals and agricultural products, has announced the redemption of its obligation of the N2.923 billion Series 7, 8, and 11 commercial paper notes issued in February, May, and July of 2023, respectively.
The company has experienced remarkable growth since its incorporation in 2014, with its revenue growing significantly by over 847.8% from N2.0 billion in 2019.
It also expanded its offerings from a small commodity trading operation to a leading dealer and exporter of world-class quality solid minerals and agro-commodities and logistics.
Source: Legit.ng
