How Investors Made N165 Billion Profit as Equities Market Bounced Back by 0.43%
On the 5th of December 2023, investors in Nigeria’s capital market experienced a significant victory with profits reaching N185 billion. Trading activities on the Nigerian Exchange Group floor closed on a positive note, with the All-Share Index growing by 0.43% to 71,250.17 from its previous position of 70,946.83.
The market capitalization also saw a substantial surge, increasing by N165.99 billion to N38.99 trillion from the previous N38.82 trillion recorded at the close of the previous trading day. Furthermore, the market turnover saw an impressive increase to N11.01 billion from N7.10 billion.
In a total of 6,904 deals, 39 stocks saw an increase, while 16 stocks declined, and 63 stocks remained unchanged. Significant gainers included Secure Electronic Technology Plc, leading with a 10% growth to close at N0.77, up from its previous price of N0.70. Other notable stocks such as Multiverse Mining and Exploration, Sunu Assurances Nigeria, and FBN Holding Plc also experienced remarkable growth, with share price increases of 9.95%, 9.92%, and 9.86% respectively.
On the other hand, Abbey Mortgage Bank Plc saw a decline of 9.88% off its share price to close at N1.55 from its previous position at N1.72, leading the decliners. Other stocks such as FTN Cocoa Processors, Daar Communication, and Coronation Insurance (WAPIC) Plc also experienced a decline in their share prices by 9.09%, 8.82%, and 7.14% respectively.
UAC Nigeria Plc traded 61.711 million units of its shares in 78 deals, valued at N947.412 million. United Bank for Africa (UBA) Plc traded 56.161 million units of its shares in 418 deals, valued at N1.195 billion, and Guaranty Trust Holdings (GTCO) Plc traded 22.997 million units of its shares in 226 deals, valued at N908.187 million.
The value chart revealed that NIDF topped with N2.222 billion worth of stocks traded in 54 deals, followed by AIRTELAFRI with stocks valued at N2.120 billion in 31 deals, and MTNN trading N1.326 billion worth of stocks in 249 deals.
This impressive rebound in the equities market is indicative of a positive trend, bringing about considerable financial gains for investors. The ability of the market to recover and experience such significant growth is a testament to the resilience and dynamism of Nigeria’s economy.
By Babajide Okeowo
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