Stock Market Hits Four-Month High, Investors Gain N65bn

Equity investors in the Nigerian Exchange Limited gained N64.93bn on Thursday as the NGX All-Share Index rose by 0.32 per cent to 39,670.29 basis points, its highest since April 26, 2021. The market capitalization of equities increased to N20.67tn on Thursday from N20.60tn the previous day.

Trading volume jumped by 52.90 per cent from 132.01 million shares worth N2.67bn traded in 3,307 deals on Wednesday to 201.84 million shares valued at N1.68bn in 3,274 deals.

By sector, the NGX Insurance and NGX Industrial indices increased by 0.77 per cent and 0.22 per cent respectively, while the Banking, Consumer Goods and Oil & Gas Indices depreciated by 0.06 per cent, 1.68 per cent and 0.07 per cent respectively.

Twenty-three firms saw gains on Thursday as against 17 losers.

Neimeth International Pharmaceuticals Plc and Nigerian Aviation Handling Company Plc emerged the biggest gainer as their share prices rose by 10.00 per cent to N1.87 and N2.97 per share respectively.

Honeywell Flour Mills Plc (+9.96 per cent), BOC Gases Plc (+9.90 per cent), and Pharma-Deko Plc (+9.79 per cent) were the other top gainers.

Nigerian Breweries Plc recorded the biggest loss as its share price decreased by 8.77 per cent to close at N52.00.

Consolidated Hallmark Insurance Plc was second with a N6.67 per cent loss, closing at N3.70 per cent. Sovereign Trust Insurance Plc, Ecobank Transnational Corporation, and FCMB Group Plc lost 3.70 per cent, 3.64 per cent and 3.50 per cent respectively.