Stock market Rise as it Gains N47.4 billion

As part of recording increase in growth in the stock market, Nigerian Stock Exchange market capitalization has returned to N13 trillion recently when the indicator increased from N12.98 trillion to N13.03 trillion, indicating N47.4 billion gain of recent. The All share index grew by 0.44% to close at 26,991.42.

Explaining the growth, Okomu Oil Palm Plc led the gainers’ chart as it gained 10% to close at N55 followed by Neimeth Pharmaceuticals Plc, which gained 9.8% to close at N0.56. Ikeja hotel plc gained 9.65% to close at N1.25. Mcnichols Plc also gained 9.52% on the bourse to close at N0.46 while Chams Plc capped the list with 9.09% gain to close at N0.36.

Alongside, Jaiz bank lost 8.7% to close at N0.63, Courteville business solution Plc also shed 8% of its share value to close at N0.23 with Lasaco Assurance also losing 8% to close at N0.23. Wema bank and Fidelity bank plc completed the list with 5.33% and 4.31% loss to close at N0.71 and N2 respectively.

Also, the top trades recorded on the bourse of the stock exchange today accumulates to 97.3 million shares valued at N1.3 billion hereby accounting for 44.6% of the total value of trades.

Access bank plc led the ranks of actively traded stocks as it traded in 27.3 million shares at N276.6 million across 276 deals followed by Zenith bank plc, which traded 26.1 million shares valued at N487.4 million across 425 deals. Fidelity bank plc despite shedding 4.31% of its share value, traded in N15.6 million shares at N31.7 million across 149 deals.

In addition, GTBank plc traded in 15.6 million shares valued at N460.1 million across 127 deals while AIICO insurance completed the list with trades in 12.7 million shares valued at N9.02 million across 53 deals.