Investor Profits Shoot Up by N305 Billion as Nigerian Equities Market Sustains Positive Momentum
The Nigerian capital market has experienced a significant increase in investor profits, amounting to a staggering N305 billion at the close of trading on Wednesday. This uptick can be attributed to the market capitalization rising to N39.29 trillion from N38.99 trillion after just five hours of trading. Additionally, the All-Share Index also saw a commendable increase of 0.78% or 558.4 basis points to 71,808.64 from 71,250.17 registered the previous day.
Market turnover also experienced a notable increase to N12.10 billion from N11.01 billion, indicating a day of active trading. The trading activities saw 33 stocks advancing, 21 declining, and 63 remaining unchanged in 8,412 deals.
Thomas Wyatt emerged as the top gainer, with a noteworthy 9.93% growth in share price, closing at N3.32 from its previous price of N3.30 per share. Following closely were FBN Holding, Multiverse Mining and Exploration, and Eco Bank (ETI), with 9.91%, 9.90%, and 9.88% increases in their share prices, respectively.
Conversely, Axa Mansard Insurance led the list of losers after its share price plummeted by 9.69% to close at N4.10 from its previous close of N4.54 per share. Other major losers were Guinea Insurance, Oando, and Omatek Ventures Plc, with share price dips of 9.68%, 9.13%, and 8.14%, respectively, in today’s trading.
In terms of the volume of trading, Guaranty Trust Holdings (GTCO) traded 76.703 million shares valued at N3.040 billion in 260 deals, making it the most actively traded stock. This was closely followed by United Bank for Africa (UBA) with shareholders trading 74.567 million shares worth N1.65 billion in 703 deals. Rounding up the top three in this category was Fidelity Bank, which traded 65.633 million shares valued at N596.3 million in 372 deals.
In terms of the value of traded shares, three banking stocks – GTCO, UBA, and ZENITHBANK – were the leaders in trading, with N3.039 billion, N1.657 billion, and N1.367 billion worth of shares, respectively.
As the market continues to exhibit promising performance, investors can look forward to benefiting from a robust portfolio with the ongoing bullish run.
Sources: Ripples Nigeria, Nigerian Stock Exchange
This report draws from credible sources such as Ripples Nigeria and the Nigerian Stock Exchange, ensuring the veracity and reliability of the information provided. The resilience and dynamism of the equities market are becoming increasingly apparent, creating an environment that offers potential for substantial returns for investors, thereby adding a thrilling dimension to the trading landscape.
