Equities rally extends to fifth session, market gains N316bn
The Nigerian equities market has extended its rally for a fifth day, gaining N316bn as investor optimism over the Dangote Refinery listing continues. Read More: https://punchng.com/equities-rally-extends-to-fifth-session-market-gains-n316bn/
Nigerian equities market continues its five-day rally on Wednesday, fueled by investor optimism surrounding the Dangote Refinery listing. The All-Share Index climbed 487.28 points, marking a 0.20% gain and closing at 244,791.79 points. Overall market capitalization surged by N316bn, reaching N158.715tn. The market's uptrend was driven by a price increase in large and medium-capitalized stocks such as Nigerian Exchange Group, MTN Nigeria Communications, Nigerian Breweries, Transnational Corporation, and Champion Breweries.
34 stocks gained, outpacing 25 that lost value. Sovereign Trust Insurance saw the highest gain at 9.69%, closing at N2.15 per share, while Champion Breweries and Livestock Feeds followed with 9.50% and 9.42% gains, respectively. Despite this positive trend, Industrial & Medical Gases Nigeria led declines, dropping 9.93% to close at N27.65 per share, followed by John Holt, LivingTrust Mortgage Bank, Fidson Healthcare, and Royal Exchange.
The total volume traded increased by 31.1% to 662.43 million units, valued at N37.45bn, with transactions in 63,271 deals.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
