Investors gain N217bn on positive trading

Investors on the Nigerian Exchange Limited on Thursday enjoyed a N217bn addition to their wealth at the close of trading.

The All-Share Index of the local bourse rose by 0.37 per cent to reach 96,924.86 points. The positive trading lifted market capitalisation by the same margin to N58.73tn. The year-to-date return now stands at 29.62 per cent.

Most sectors performed positively with insurance, consumer goods, oil and gas, and industrial goods indices rising by 1.84 per cent, 0.01 per cent, 1.77 per cent, and 0.02 per cent, respectively. However, the banking sector fell by 0.38 per cent.

In total, 33 stocks advanced, while 17 declined. Top gainers included Conoil (+10.00 per cent), Aradel (+10.00 per cent), Eunisell (+9.92 per cent), JohnHolt (+9.77 per cent), and paper company, Thomas Wyatt (+9.71 per cent).

On the decliners’ table were Tantalizer, NGX Group, Wema Bank which recently emerged as the ‘No. 1 Best Workplace in Nigeria’, at the Great Place To Work 2024 Awards ceremony which was held in Lagos, RT Briscoe, And FCMB Group.

Trading activity was strong with increases of 7.53 per cent, 744.54 per cent, and 16.48 per cent in deals, volume, and value, respectively.

Combined 744.54 million shares were traded across 9,700 transactions, totalling N16.48bn. Consolidated Hallmark Plc led by volume with 124.8 million shares, valued at N245.79m exchanged in 72 trades followed by Japaul Gold 105.93 million units of shares valued at N224.09m and EllahLakes with 92.00m shares worth N327.64m.

 FBN Holdings which opened its N150bn rights issue on Wednesday, also got on the volume chart with 70.59m units of shares valued at N1927.47m exchanging hands.