Equity market posts N184bn gain

The Nigerian Stock Exchange closed with a market capitalisation of N59.7tn on Wednesday, reflecting a gain of N184bn in total market value.

In terms of market indices, the All-Share Index gained 0.31 per cent, closing at 98,509.68 points. The ASI has recorded a one-week gain of 0.34 per cent, a four-week gain of 1.12 per cent, and a year-to-date gain of 31.74 per cent.

The trading session saw a total of 320,101,766 shares traded in 7,943 deals, with a market turnover of N6.48 bn. Compared to the previous trading day, the day’s data showed a 66 per cent decline in volume, a 49 per cent decrease in turnover, and a 13 per cent reduction in the number of deals.

Among the top gainers, Conoil, Africa Prudential, and RT Briscoe led with a 10 per cent increase in their share prices, closing at N352.00, N14.30, and N2.42, respectively. Golden Guinea Breweries saw a 9.95 per cent increase, closing at N7.18. Other notable gainers included NEM Insurance (+9.74 per cent), closing at N10.70, and Tantaliser (+9.59 per cent), closing at N1.60.

On the losing side, Julius Berger Nigeria recorded a 10 per cent decrease, closing at N155.25 per share, followed by Secure Electronic Technology with a 9.52 per cent decline, closing at N0.57. Multiverse Mining & Exploration fell by 7.63 per cent, closing at N5.45, and Haldane McCall saw a 6.07 per cent decrease, closing at N4.95. Other losers included Honeywell Flour Mills, which fell by 5.62 per cent, closing at N4.70, and Livestock Feeds, which declined by 5.59 per cent, closing at N3.21.

E-Tranzact International recorded the highest volume with 70.3 million shares traded, followed by Universal Insurance Company (23.8m), Zenith Bank (21.2m), and FBN Holdings (18.6m).

Other notable sectoral performances included the Oil & Gas Index, which gained 2.59 per cent, closing at 456.63 points; the Insurance Index, which rose by 2.34 per cent, closing at 210.35 points; and the Main Board Index, which increased by 0.42 per cent, closing at 1,546.56 points.

On Tuesday, the Nigerian Exchange closed on a positive note, with market capitalisation rising by N61bn to close at N59.53tn. The All-Share Index gained 0.10 per cent, settling at 98,206.97 points, up from the previous close of 98,107.52 points.