Stock market rebounds, adds N2.59 trillion to investors’ wealth
The Nigerian stock market rebounded strongly on Wednesday, gaining N2.593 trillion in value and boosting investors’ portfolios.
The bullish rally was driven by major stocks, such as Guaranty Trust Holding Company, Nigerian Breweries, Ecobank Transnational, Access Corporation, AXA Mansard, and 60 other advancers.
Specifically, the market capitalisation rose by 2.88 per cent, moving from N89.884 trillion to N92.477 trillion.
Similarly, the All-Share Index appreciated by 2.88 per cent, closing at 145,403.83 points, compared to 141,327.30 recorded on Tuesday.
The Year-To-Date (YTD) return rose to 41.27 per cent, while market breadth remained positive with 65 gainers and 11 losers.
Guaranty Trust Holding Company, Nigerian Breweries, Ecobank Transnational, Access Corporation, and AXA Mansard topped the gainers’ chart by 10 per cent each.
They closed at N85.80, N66, N34.65, N22, and N13.31 per share, respectively.
Conversely, Transpower, Vitafoam, and Austinlaz led the losers’ chart, shedding 10 per cent each to close at N307.80, N84.60, and N2.61 per share, respectively.
Red Star Express declined by 9.80 per cent to N9.20, while Abbey Mortgage Bank dropped by 9.72 per cent to N6.50 per share.
Market activity analysis showed a 73 per cent rise in turnover, a 23 per cent increase in volume, and a 17 per cent decline in the number of deals.
A total of 806.4 million shares worth N50.78 billion were traded across 24,509 transactions.
This compares to 655.9 million shares worth N29.4 billion exchanged in 29,558 deals on Tuesday.
Guaranty Trust Holding recorded the highest traded volume of 105 million shares, while Aradel posted the highest transaction value at N12.91 billion.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
ISWAP chief photographer, other media team members killed in sustained military operations
The spokesperson said several other key fighters sustained severe injuries as they fled under intense military pressure.
Heading 2
New Jersey registered 6,600 non-citizens as voters in error: Governor Sherrill
The governor attributed the error to a software glitch in the state’s Motor Vehicle Commission.
Abuja
Three Abuja security guards in court over alleged theft of scaffold pipes worth N1.8 million
The prosecutor said that the offence is contrary to Sections 79 and 289 of the Penal Code.
NationWide
Navy hands over two rescued victims of human traffickers to NAPTIP
Mr Folorunsho said that the handover was conducted by Forward Operating Base (FOB) BADAGRY, on July 19 at the agency’s Lagos Zonal Command in Ikeja.
States
Insecurity: Tinubu approves establishment of army battalion in Kwara
The battalion will be stationed in Omu-Aran, the headquarters of Irepodun Local Government Area.
World
Saudi oil tankers make U-turn in Red Sea as Houthi militants threaten attack
Three oil tankers carrying Saudi crude to China and India made U-turns in the Red Sea on Tuesday following a threatened attack from Yemen’s Iran-aligned Houthi militia.
