The Stock Market Rises As Investors Profit N107bn

by Mercy Ulasi
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On Wednesday, the Nigerian Exchange Limited recovered as investors made N107 billion. On Tuesday, the market saw a loss of around N1 billion.

The market capitalization and All-Share index both increased by 0.35 percent to 55,801.14 and N30.397tn, respectively.

The ASI had advanced 4,205.48 points since the start of the year, and the year’s total returns had reached 8.15 percent.

Volume-wise, 3,293 trades totaling 152,742,743 million shares for a value of N3.572 billion were executed on the exchange’s trading floor.

While 18 firms saw their share prices rise and 18 shares saw their value decline, the market’s activity was flat.

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Leading the gainers were Trans Nationwide Express plc, Cutix and FTN Cocoa, with 9.88 per cent, 8.50 per cent and 7.69 per cent gain to close the market at N0.89, N2.17 and N0.28 per share respectively.

At the end of trading, the losers’ table was led by MRS, which suffered a 9.98 per cent loss to close at N27.95, ABC Trans lost 7.89 per cent to close at N0.35 and Chams experienced a 7.41 per cent dip to close to at N0.25.
The Financial Services sector had continued dominance on the most traded chart of the NGX on Wednesday, as 6,261,268 million shares of Zenith Bank, worth N162.465m were traded in 249 deals. Following was GTCO with 12,749,020 worth N335.933m traded in 227 deals.

Shares of MTN Nigeria emerged the third most traded stock on the NGX at the end of trading as 598,909 shares worth N148.903m were exchanged in 189 deals.

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