Financial Boost: Investors Rake in N507bn, Multiverse and Transcorp Lead the Way
Nigerian capital market investors experienced significant gains, with a total of N507 billion earned at the conclusion of trading on Wednesday. Market capitalization increased to N40.16 trillion from the previous day’s N39.66 trillion, providing investors with a reason to celebrate.
Furthermore, the All-Share Index (ASI) rose by 927.6 basis points, closing at 73,397.71, compared to the bourse’s Tuesday posting of 72,470.10. This positive performance resulted in 37 stocks advancing, 23 declining, and 56 remaining unchanged in 7910 deals.
The top gainers for the day were Multiverse Mining and Exploration, and Transcorp, both recording a 10% growth to close at N11.55 and N7.70 respectively, from their previous prices of N10.50 and N7.00 per share. Additionally, Infinity Trust Mortgage Bank, E-Tranzact, and Caverton Offshore also experienced significant growth in their share prices.
Conversely, Tantalizer led the decliners, shedding 10% off its share price to close at N0.45 from its previous price of N0.50 per share. Other companies that recorded significant losses were Thomas Wyatt, The Initiative, and Juli Plc, experiencing declines in their share prices.
In terms of volume, Guaranty Trust Holding (GTCO) traded 89.454 million shares valued at N3.57 billion in 362 deals. Access Bank Holding and Transcorp also saw significant volumes of shares being traded.
In considering the value index, GTCO emerged as the leader, trading stocks worth N3.578 billion, followed by Airtel Africa with N2.492 billion in stocks in 49 deals. Access Corp also raked in N1.366 billion in 483 deals.
The Nigerian capital market is evidently displaying resilience in the face of challenges brought about by the pandemic and other economic factors. It comes as no surprise that investors are capitalizing on the opportunities presented in the market. This upward trajectory is indeed a welcomed development amidst the economic uncertainties that have plagued the country.
The aftermath of the pandemic remains a cause for concern, especially with the possibility of another wave of infections. However, viable investment opportunities in the Nigerian capital market are enabling investors to capitalize on gains and strengthen their portfolios. The positive growth in the capital market has sparked a renewed sense of optimism among investors, indicating that viable options for growing wealth exist in a challenging economic landscape.
It is crucial to note that investment opportunities come with risks, and it is always advisable to seek professional advice and conduct thorough research before making investment decisions.
As we navigate the economic recovery process, it is encouraging to witness positive movements in the capital market. Long-term investors will be eager to leverage these opportunities to grow their portfolios and enhance their financial positions.
The positive momentum in the capital market serves as a ray of hope, not only for investors but also for the overall economic recovery of the country. As we work towards rebuilding and strengthening the economy, the capital market’s performance serves as a critical indicator of our progress.
Undoubtedly, the positive performance of the capital market reflects the resilience and potential for growth in Nigeria’s financial sector. It is an essential aspect of the overall economic recovery, and it is heartening to see the progress that has been made.
