On Thursday, investors enjoyed a substantial gain of N677 billion as the Nigerian stock market continued its upward trajectory. Market capitalization rose by 0.92%, closing at N74.358 trillion, up from N73.681 trillion the previous day.
Market data revealed that the All-Share Index (ASI) increased by 1,074.26 points, or 0.92%, reaching 117,861.13, compared to 116,786.87 on Wednesday. This growth was fueled by strong buying interest in medium- and large-cap stocks, including Ikeja Hotel, Beta Glass, Legend Internet, University Press, Eterna, and 38 other companies.
As a result, the market breadth was positive, with 43 stocks gaining and 20 losing. Among the gainers, Ikeja Hotel saw a 10% increase, closing at N15.40, while Beta Glass rose by 9.98%, finishing the session at N276 per share. Additionally, Legend Internet surged by 9.92%.
University Press saw an increase of 9.85 percent, closing at N6.02 per share. Eterna also experienced a rise, climbing 9.82 percent to finish at N42.50 per share.
On the other hand, Guinea Insurance led the losers’ list with a decline of 9.21 percent, settling at 69k. Haldane McCall fell by 5.88 percent, ending at N4.00 per share. C&I Leasing decreased by 5.84 percent, closing at N4.35, while McNichols Plc dropped 5.58 percent to finish the session at N2.20 per share. Additionally, Fidson Healthcare lost 4.65 percent, closing at N41 per share.
Market data revealed that a total of 893.97 million shares, valued at N22.03 billion, were traded across 17,257 transactions. This is a decrease from the previous session, which saw 640.08 million shares worth N26.01 billion exchanged in 19,727 deals.
Champion Breweries led the trading activity with 332.29 million shares valued at N2.27 billion. Guaranty Trust Holding Company followed, with 62.67 million shares worth N5 billion, while PZ Cussons sold 46.5 million shares.
Zenith Bank recorded a trade of 37.55 million shares valued at N1.89 billion, while Access Corporation traded 35.99 million shares worth N787.11 million.
Earlier, Umaru Kwairanga, the Chairman of the Nigerian Exchange Group (NGX), encouraged stakeholders in the financial sector to adopt Artificial Intelligence (AI) to enhance efficiency and boost customer satisfaction.
