See more as Nigerian stock market hit a record high, investors share N1trn

• Nigeria's banal marketplace recorded an betterment connected Tuesday, acknowledgment to the beardown show of Airtel Africa stocks
• The telecommunications elephantine led the battalion of gainers arsenic its stock terms accrued by 10%, followed by Omatek Ventures
• Airtel Africa is presently successful the 2nd tranche of its $100 cardinal stock buy-back program, which is attracting investors

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.

The Nigerian Exchange Limited (NGX) connected Tuesday, May 27 recorded a historical surge arsenic the All Share Index (ASI) soared past the 111,000 points mark, closing astatine 111,606.22 points

Data showed that astatine the extremity of trading, the ASI jumped from 109,884.93 to a record-high of 111,606.22, gaining 1.57% arsenic it crossed some the 110,000 and 111,000 marks.

Nigeria's banal marketplace rises to a grounds high Photo credit: nurphoto
Source: Getty Images

Market capitalisation besides roseate by 1.50% to scope N70.377 trillion by the adjacent of trading, up from N69.2 trillion in the erstwhile session.

This means that investors made a whopping N1.086 trillion aft 4 hours of trading activities.

Snapshot of banal marketplace show connected Tuesday

The standout performer driving this rally was Airtel Africa Plc, amid the company’s ongoing $100 cardinal stock buy-back programme, present successful its 2nd tranche pursuing the palmy completion of the archetypal signifier announced connected December 23, 2024.

In summary, investors exchanged 409,571,113 shares valued astatine N9.869 cardinal crossed 15,992 deals connected the NGX connected Tuesday.

Here is simply a snapshot of the losers and winners

Top gainers

• Airtel Africa led the day’s gainers, rising by N215.60 from N2,156.90 to N2,372.50 per stock (+10.00%).
• Omatek Ventures gained N0.06, moving from N0.65 to N0.71 per stock (+9.23%).
• Cornerstone Insurance roseate by N0.27, from N3.13 to N3.40 per stock (+8.63%).
• Nigerian Aviation Handling Company added N6.25, expanding from N74.50 to N80.75 per stock (+8.39%).
• University Press gained N0.31, moving from N4.79 to N5.10 per stock (+6.47%).

Airtel Africa stocks emergence by 10% successful 1 day Photo credit: Airtel
Source: Instagram

Top losers

• On the flip side, MCNichols topped the losers’ illustration with a 9.80% decline:
• MCNichols dropped N0.24, falling from N2.45 to N2.21 per stock (−9.80%).
• Computer Warehouse Group mislaid N0.95, decreasing from N10.00 to N9.05 per stock (−9.50%).
• Champion Breweries declined by N0.55, from N7.45 to N6.90 per stock (−7.38%).
• Red Star Express fell N0.31, from N6.71 to N6.40 per stock (−4.62%).
• Jaiz Bank dropped N0.15, moving from N3.36 to N3.21 per stock (−4.46%).

Top traded stocks by volume

In presumption of trading activity, Custodian Investment led the marketplace by volume:

• Custodian Investment recorded 37.59 cardinal shares valued astatine N752.12 million
• Fidelity Bank followed with 36.99 cardinal shares worthy N676.32 million.
• Veritas Kapital Assurance exchanged 33.01 cardinal shares valued astatine N34.10 million.
• Zenith Bank traded 27.43 cardinal shares worthy N1.33 billion.
• Access Holdings recorded 23.69 cardinal shares valued astatine N519.56 million.

Naira's worth drops against US dollar

Earlier, Legit.ng reported that the worth of the naira has depreciated again successful the overseas speech marketplace against the US dollar connected Tuesday.

Data shows that the Nigerian currency suffered losses some successful the authoritative and unofficial overseas speech markets

The Central Bank of Nigeria has conducted FX intervention, selling $50 cardinal to authorised trader banks

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Source: Legit.ng