Investors gain N99bn at Nigerian stock market

Details of the trading on Wednesday at Nigerian Exchange Limited showed that marketplace capitalisation roseate by 0.06 per cent, expanding from N156.943 trillion to N157.042 trillion.

Similarly, the All-Share Index (ASI) gained 154.59 points, oregon 0.06 per cent, to adjacent astatine 244,852.21, compared with 244,697.62 recorded successful the erstwhile session.

The sustained rally further strengthened the market’s year-to-date (YTD) instrumentality to 57.35 per cent.

Despite the stocks’ bullish tally on Wednesday, marketplace breadth remained negative, with 37 stocks signaling losses against 30 gainers, indicating a broader sell-off crossed the market.

On the gainers chart, Livestock Feeds led by 10 per cent, settling astatine N9.35; Deep Capital, Abbey Mortgage Bank, Vitafoam, and FTN Cocoa Processors are among the stocks that recorded a surge on Wednesday.

On the flipside, FG142037S2 led the decliners’ illustration by 26.67 per cent, closing astatine N95.33. Followed by Neimeth Pharmaceuticals, International Energy Insurance, John Holt, and Union Homes Real Estate Investment Trust.

Further investigation showed that the marketplace enactment declined for the day, with full trading measurement falling by 3.47 per cent to 1.23 cardinal shares valued astatine N38.84 cardinal successful 54,193 transactions.

Accordingly, Sterling Nigeria emerged arsenic the astir actively traded banal by volume, accounting for 565.33 cardinal shares...