Market News
Equity market record N793bn gain - PUNCH
The Nigerian Stock Exchange recorded a positive close on Thursday, with the All-Share Index rising by 1.25 per cent to close at 105,530.74 points, up from 104,230.73 points.
In line with the growth in the ASI, the market capitalisation surged by N793bn, closing at N64.351tn.
This increase brings the year-to-date gain to 2.53 per cent, the month-to-date gain to 2.51 per cent, and the week-to-date gain to 2.23 per cent.
A total of 481,686,150 units of shares were traded in 12,824 deals, valued at N12.82bn.
Despite the positive market sentiment, the market breadth closed negative, with 34 stocks advancing while 25 stocks declined.
MTNN led the gainers with a 10 per cent increase, rising from N220.00 to N242.00, while HONYFLOUR followed with a 9.89 per cent gain, moving from N8.29 to N9.11. Other gainers included Universal Insurance Company (up 9.86 per cent), Transcorp Hotels (up 9.78 per cent), and Ikeja Hotel (up 9.31 per cent).
On the flip side, RT Briscoe was the top loser, shedding 10 per cent to close at N2.34, down from N2.60, while Sunu Assurances Nigeria Plc saw a 9.99 per cent drop, closing at N8.11 from N9.01. TIP, UPDC, and Guinea Insurance also experienced declines in share prices, down by 9.68 per cent, 9.50 per cent, and 8.08 per cent, respectively.
Universal Insurance Company led the trading volume, with 97,239,811 units traded, valued at N72.17m, followed by AIICO with 54,234,773 units traded, amounting to N104.18m. Sovereign Trust Insurance, FBN Holdings Plc, and Guinea Insurance are also featured among the top traded companies.
Other indices also posted positive performance, with the Top 30 Index increasing by 1.42 per cent, the Premium Index rising by 2.33 per cent, and the Pension Index up by 1.71 per cent.
Additionally, the Banking Index rose by 1.70 per cent, while the Main Board Index and Consumer Goods Index gained 0.68 per cent and 0.46 per cent, respectively.
The PUNCH reported that investors on the Nigerian Exchange gained N507bn at the close of trading on Wednesday, as the market capitalisation surged to N63.56tn from N63.05tn in the previous session.
