Investors Reap N1.82 Trillion Gain as NGX Market Index Rises by 3.9%
The Nigerian equities market witnessed a significant surge on Tuesday, leading to substantial financial gains for investors. The market capitalization surged to N48.139 trillion, a remarkable increase from the previous N46.317 trillion. This surge in market capitalization resulted in a substantial N1.82 trillion increase in investors’ wealth.
Furthermore, the All-Share Index displayed an upward trajectory, rising by 3.93 percent to reach 87,971.10, compared to the previous day’s figure of 84,640.89. The market breadth favoured investors, with 75 stocks advancing, while only nine experienced a decline, and 34 maintaining their previous prices in a total of 14,505 deals.
Numerous companies saw significant growth in share prices, including Transcorp, Sterling Bank Financial Holding, Berger Paint, Honey Well Flour Mills, Nigerian Breweries, Nascon Allied Industries, Dangote Sugar Refinery, Universal Insurance, Flour Mill Nigeria, and FTN Cocoa Processor. These companies achieved an impressive 10% growth in share prices.
On the other hand, Royal Exchange led the decliners with an 8.16% drop in share price, followed by Multiverse Mining and Exploration, Ellah Lakes, and Oando, which suffered declines of 6.59%, 4.79%, and 3.60% respectively.
In terms of the most active stocks, Jaiz Bank emerged as the leader in volume, with 147.637 million shares traded, valued at N497.4 million. AIICO Insurance followed closely with 128.340 million shares worth N123.3 million in 401 trades. First City Monument Bank (FCMB) also witnessed significant activity, trading 61.073 million shares, valued at N735.8 million.
The value index was dominated by NASCON, which traded equities valued at N2.570 billion, with Nigeria Breweries following closely at N1.415 billion. UBA also featured prominently, trading stocks worth N1.064 billion.
The recent surge in the equities market presents a promising opportunity for investors to capitalize on. With the potential for high returns on investment, traders and investors should vigilantly monitor the market to identify lucrative opportunities for wealth generation.
The positive turn in the equities market reflects the resilience and recovery of Nigeria’s financial landscape, offering hope and optimism for sustained economic growth in the country.
