Stock Market Gains N3bn, Trades 1.82bn Shares

The All Share Index rose by 11.54 absolute points, representing a gain of 0.02 per cent to close at 51,138.92 points. Accordingly, investors gained N3 billion in value as market capitalisation went up to N27.853 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Nigerian Aviation Handling Company , Nigerian Breweries, Africa Prudential, Eterna and Flour Mills of Nigeria. On market outlook, GTI Securities Limited said “the Nigerian equity market gained marginally yesterday. However, Investors are cautious as the market remains uncertain and striving towards recovery. Companies Q1, 2023 performances could be a driver for a positive shift.”

As measured by market breadth, market sentiment was mixed, as an equal number of stocks gained and lost. Transnational Corporation recorded the highest price gain of 9.73 per cent to close at N2.03, per share. R. T. Briscoe Nigeria followed with a gain 9.09 per cent to close at 24 kobo, while International Energy Insurance rose by 7.50 per cent to close at N1.29, per share.

NAHCO went up by 5.45 per cent to close at N11.60, while Africa Prudential appreciated by 4.81 per cent to close at N5.45, per share. On the other hand, Vitafoam Nigeria led the losers’ chart by 8.65 per cent to close at N16.90, per share. Linkage Asurance followed with a decline of 8.33 per cent to close at 44 kobo, while Chams Holding Company went down by 8.00 to close at 23 kobo, per share.

Source: News Formal (newsformal.com)

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