The Nigerian Stock Exchange (NSE) Rake In N233 Billion in a Single-Day Gain
The Nigerian Stock Exchange (NSE) saw its territory move into the positive on Thursday, as investors pushed N233 billion into the market due to renewed buying interest.
The top performers on the Nigerian Stock Exchange yesterday were rising stocks: RT Briscoe, SCOA, Deap Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 other equities.
Due to the influx, the market capitalization rose by 0.22 percent from N105.736 trillion, which was the value at the last recorded session on Wednesday, to N105.969 trillion on Thursday.
As expected, the All Shares Capital rose by 362.93 points, or 0.22 percent, to close at 165,527.31, up from 165,164.38 previously.
Market breadth also closed positive, with 41 gainers outweighing 27 losers.
The top performer on the stock exchange, RT Briscoe, led the pack with a 10 percent increase to close at N7.15 per share, while Haldane McCall was the biggest loser on the stock exchange, losing 9.84 percent to close at N3.94.
Other losers included Union Dicon Salt, University Press, Legend Internet, and Austinlaz.
The overall trading activities showed a mixed performance in the market, with trading volume going up by 10 percent, while the value traded declined by seven percent and the number of deals fell by nine percent.
In exchange, 691.4 million shares valued at N15.4 billion were exchanged in 38,665 transactions, as compared with 623.18 million shares worth N16.5 billion traded in 42,172 deals during the previous session.
Meanwhile, Cutix, a prominent Nigerian wire and cable manufacturing company headquartered in Anambra State, had the most actively traded stock by volume, with 144.62 million shares, accounting for 20.92 percent of total market volume.
Aradel Holdings, one of the companies in the oil and gas industry, recorded the highest value of trades at N2.67 billion, representing 17.36 percent of the total value traded.
While the Nigerian stock market experienced a positive performance, the United States’ major equities saw a major decline in the S&P 500, Nasdaq, Microsoft, and other big stocks, which closed lower during the same period.
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