On Wednesday, the Nigerian Exchange Limited (NGX) gained N132 billion at the market's close to cover losses incurred in previous markets. Yesterday, Seplat Nigeria recorded a 10% profit, Meyer Plc recorded a 9.79% profit, followed by Sunu Assurance with 9.56%, Nestle recorded a 9.53% profit, and Consolidated Hallmark Holdings Plc recorded a 9.24% profit.
The All-Share Index finished with a gain of 0.34%, reaching 71,283.34 points, and market capitalization increased to N39.007 trillion on the back of investor bullish sentiment, particularly in select medium and large-cap stocks with solid fundamentals, according to the PUNCH report.
Trading activities reduced as the total deals and volume declined by 19.14% and 32.55%, respectively, which amounted to 6,579 deals and 360.60 million units. The total value of the day rose by 17.64% to N6.61 billion.
At yesterday's close, the NGX market saw 39 stocks lose while 21 stocks gained.
Top Gainers: Seplat, Meyer, Sunu Assurance, Nestle Plc, and Consolidated Hallmark Holdings Plc closed at N2.310, N3.59, N1.49, N1.150, and N1.30 per unit after gains ranging from 10% to 9.24%.
Top Losers: Guinea Insurance, which lost 10% to close at N0.27; Omatek, which lost 9.88% to close at N0.73; Abbey Mortgage Bank, which lost 9.68% to close at N1.68; Neimeth Pharma, which lost 9.45% to close at N1.82; and Tantalizer, which lost 8.62% to close at N0.53 per unit.
Read more: https://www.investingport.com/investors-rejoice-as-nigerian-exchange-limited-gains-n132-billion/