Stock Market Records 1.21% Increase In All-Share Index

The Nigerian Exchange Ltd witnessed an upsurge in the All-Share Index on Thursday, as it climbed by 891.31 points or 1.21%, closing at 74,289.02 compared to Wednesday’s 73,397.71.

Simultaneously, the market capitalization experienced a significant increase of N487.74 billion or 1.21%, reaching N40.653 trillion against the previous N40.165 trillion.

The market’s positive performance was attributed to increased demand for shares of major companies like MTN Nigeria, Okumu Oil, Transcorp, Zenith Bank, and United Bank of Africa (UBA), among others.

As a consequence, the Year-to-Date (YTD) return soared to 44.95% at 23,037.96.

The market breadth ended positively, with 48 stocks closing higher and 17 stocks on the decline.

Among the gainers, Industrial and Medical Gas led with a 10% rise, closing at N9.35 per share. Transcorp Hotel followed suit with a 10% surge, closing at N8.47, while Okumu Oil recorded a 9.96% increase, closing at N263.90 per share. Infinity rose by 9.87%, and SCOA gained 9.39%, closing at N1.98 per share.

Conversely, Johnholt led the losers’ chart with a 10% decline, closing at N2.34 per share. Ellahlakes dropped by 9.94% to close at N2.90, and TrippleG declined by 9.66%, closing at N2.15 per share. Regalins shed 8.11% to close at 34k, while UACN lost 5.96%, closing at N15 per share.

The day’s market activities saw trade turnover slightly higher than the previous session, with the transaction value rising by 1.54%. A total of 760.93 million shares valued at N13.03 billion were traded in 7,990 deals.

Abbey Mortgage Bank led the volume with 224.08 million units traded, while Nestle topped the value chart with transactions worth N2.65 billion.

The positive market trend signifies investor optimism and increased trading activity within the Nigerian equities market.

NAN