Three Nigerian Companies Propel NGX to N469 Billion in Gains

Nigerian Firms' Dominance
Market Gain Overview
Stock Performance
Market Activity Analysis
Top Traders

Four Nigerian companies are leading as the Nigerian Exchange Limited saw a gain of N469 billion in equities after trading on Tuesday.

Jaiz Bank, ABC Transport, Austinlaz, Multiverse Mining, along with 60 other stocks, propelled the NGX into bullish territory.

This increase was fueled by ongoing investor interest in stocks listed on the Nigerian Stock Exchange.

According to NGX market data, the total market capitalization rose by N469 billion, or 0.46 percent, closing at N102.275 trillion, up from an opening value of N101.806 trillion.

Similarly, the All-Share Index increased by 0.46 percent, gaining 732.86 points to settle at 159,951.08, compared to 159,218.22 recorded on Monday. This performance also enhanced the year-to-date return.

The market breadth ended positively, with 65 stocks showing gains against 21 that declined.

Meyer and Jaiz Bank led the gainers' list with a 10 percent increase each, closing at N14.30 and N5.28 per share, respectively. They were followed by ABC Transport, Austinlaz, and Multiverse Mining.

On the losers' side, Aluminium Extrusion Industries experienced the largest decline at 9.96 percent, followed by Learn Africa, Oando, United Bank for Africa, and Access Corporation.

Market activity analysis revealed a four percent decrease in the number of transactions, alongside a nine percent increase in trading volume and a seven percent rise in transaction value.

A total of 758.9 million shares valued at N19.8 billion were traded in 54,212 transactions, compared to 695.6 million shares worth N18.6 billion exchanged in 56,632 deals on Monday.

Linkage Assurance recorded the highest trading volume, with 51.63 million shares exchanged, representing 6.80 percent of the total volume. Guaranty Trust Holding Company led in value traded at N2.04 billion, accounting for 10.24 percent of the day’s total value.

Guaranty Trust Holding Company also recorded the highest value at N2.04 billion, representing 10.24 percent of the total value traded for the day.

Frequently Asked Questions

What is the recent gain in the Nigerian Exchange Limited?

The Nigerian Exchange Limited recorded a gain of N469 billion in equities after trading on Tuesday.

Which companies led the stock gains?

Meyer and Jaiz Bank topped the gainers' chart, each appreciating by 10 percent.

What was the market performance on Tuesday?

The All-Share Index advanced by 0.46 percent, gaining 732.86 points, contributing to a positive year-to-date return.

How did the trading volume compare to the previous day?

The trading volume increased by nine percent compared to the previous day, with 758.9 million shares traded.

Eze Chidiebere Paul

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