Nigerian Equities Market Gains N390bn, Closes Higher

On Wednesday, the Nigerian equities market closed positively, with a market capitalization increase of N390 billion, bringing the total to N156.239 trillion from N155.849 trillion. The NGX share index saw a decline of 503.69 basis points, closing at 242,366.75 points, down from 242,870.44 points.

The trading session recorded gains from notable stocks including Zenith Bank, FirstHoldCo, Fidelity Bank, UBA, Stanbic IBTC, and GTCO, contributing to a positive market performance. There were 31 gainers compared to 18 decliners, resulting in a year-to-date return of 55.75%.

However, trading volume decreased to 158.435 million shares, a drop of 24.96%, with a total transaction value of N29.630 billion across 40,992 deals. FirstHoldCo led the gainers with a 9.98% increase, closing at N79.35 per unit, followed by Thomas with a 9.29% gain at N2.94 per unit, and Legend Internet at 8.99%, closing at N4.85 per share.