See more as Nigerian stock investors make over N700bn, 2 banks near N100 per share

• Stock marketplace extended its gains aft trading connected Tuesday arsenic much investors bought shares of Okomu Oil Palm, Beta Glass, Dangote Sugar Refinery
• Data showed that LivingTrust Mortgage Bank, Royal Exchange, Fidelity Bank, Access Holdings and Zenith Bank were the astir actively traded stocks
• Two Nigerian banks, Stanbic IBTC and Guaranty Trust Holding Company PLC, are nearing the N100 per stock mark

Legit.ng writer Dave Ibemere has implicit a decennary of acquisition successful business journalism, with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Nigeria’s banal marketplace gained for a 2nd consecutive league connected Tuesday, June 24, amid investors' appetite for caller user goods shares.

Data from the Nigerian Exchange Limited (NGX) showed that the marketplace All-Share Index roseate from 118,579.65 points successful the erstwhile session to 119,790.82 points.

Nigerian banal marketplace gains arsenic investors marque implicit N700 billion Photo credit: Bloomberg/contributor
Source: Getty Images

While the marketplace capitalisation besides accrued to N75.576 trillion, up from N74.812 trillion. Indicating a N764 cardinal summation for investors.

How the banal marketplace performed

Okomu Oil Palm led Tuesday’s rally, jumping 10% to adjacent astatine N748 from N680, adding N68. Beta Glass followed with a 10% emergence to N333.95, up from N303.60.

Dangote Sugar Refinery besides roseate 10%, gaining N4 to adjacent astatine N44.

Other notable gainers included Champion Breweries, which roseate by 9.98% to N9.92, and UPDC, which climbed 10% to N3.30.

Trading enactment remained robust with 868.7 cardinal shares valued astatine N23.71 cardinal changing hands successful 22,207 deals.

The astir actively traded stocks included LivingTrust Mortgage Bank, Royal Exchange, Fidelity Bank, Access Holdings, and Zenith Bank.

Despite the beardown performance, Vetiva Research analysts successful a enactment expressed a cautiously optimistic tone, explaining that portion the marketplace maintains affirmative momentum, it could reverse.

Here is simply a snapshot of the winners and losers connected Tuesday

Top gainers

• Dangote Sugar Refinery Plc gained N4.00, rising from N40.00 to N44.00 per stock (+10.00%).
• Okomu Oil Palm Plc gained N68.00, expanding from N680.00 to N748.00 per stock (+10.00%).
• UPDC Plc gained N0.30, moving from N3.00 to N3.30 per stock (+10.00%).
• Beta Glass Plc roseate by N30.35, climbing from N303.60 to N333.95 per stock (+10.00%).
• Champion Breweries Plc gained N0.90, rising from N9.02 to N9.92 per stock (+9.98%).

Top losers

• DAAR Communications Plc declined by N0.05, falling from N0.64 to N0.59 per stock (−7.81%).
• Prestige Assurance Plc mislaid N0.06, decreasing from N1.08 to N1.02 per stock (−5.56%).
• International Marine and General Services Plc (IMG) dropped N1.50, moving from N34.90 to N33.40 per stock (−4.30%).
• NPF Microfinance Bank Plc fell by N0.09, dropping from N2.12 to N2.03 per stock (−4.25%).
• Aradel Holdings Plc mislaid N21.80, decreasing from N536.80 to N515.00 per stock (−4.06%).

Top traded stocks (by measurement and value)

• LivingTrust Mortgage Bank Plc: 112,269,345 units traded, valued astatine N415,675,435.00
• Royal Exchange Plc: 103,584,171 units traded, valued astatine N113,795,841.88
• Fidelity Bank Plc: 83,927,799 units traded, valued astatine N1,632,768,400.50
• Access Holdings Plc: 55,602,690 units traded, valued astatine N1,263,475,279.55
• Zenith Bank Plc: 34,211,315 units traded, valued astatine N1,768,437,660.90

Two banks adjacent N100 per share

Meanwhile, 2 Nigerian banks, Stanbic IBTC and GTCO Holdings, are showing beardown show arsenic their stock prices borderline person to the N100 mark.

Stanbic IBTC holds the rubric of the highest-priced banking banal connected the Nigerian Exchange (NGX), currently trading astatine N87 per share.

GTCO Holdings, the genitor institution of GTban,k follows intimately with a stock terms of N83.6.

So acold successful 2025, GTCO has gained 46.7%, portion Stanbic has appreciated by 51%.

Access Bank acquires Standard Chartered Bank Tanzania

Access Bank Plc has afloat acquired Standard Chartered Tanzania’s Consumer, Private, and Business Banking division.

The determination volition present let Access Bank to supply fiscal services to SMEs, women, and high-net-worth individuals.

Access Bank besides announced that it has taken implicit Standard Chartered successful the Gambia aft 130 years of operations.

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Source: Legit.ng