Equities market posts biggest single-day gain in eight months, up 2.03%
Extending the bullish run for the second consecutive session, equities market of the Nigerian Exchange Limited (NGX) posted strong gains on Thursday as the benchmark Index ended 2.03per cent stronger – the biggest single-day gain since 31 December 2021 – to settle at 49,661.87 basis points, the highest point since 17 August.
Investors’ interest in index heavyweights, Airtel Africa (+7.06per cent), Nestle Nigeria (+0.34 per cent) and BUA Foods (+3.33 per cent) drove the broader index’s strong performance.
Consequently, the year-to-date (YTD) return rose to 16.26per cent, with market capitalisation gaining N532.11billion to close at N26.79trillon.
Market breadth closed positive as 18 stocks recorded gains relative to 11 losers.
Computer Warehouse Group (CWG) recorded the highest price gain of 10 per cent to close at 99 kobo, while Learn Africa followed with a gain of 9.78 per cent to close at N2.47, per share.
Multiverse Mining and Exploration and Caverton Offshore Support Group went up by 9.52 per cent each to close at N2.30 and N1.15 respectively, while Chams appreciated by 8.00 per cent to close at 27 kobo per share.
On the other hand, Mutual Benefits Assurance led the losers’ chart by 9.68 per cent to close at 28 kobo per share. Honeywell Flour Mills followed with a decline of 8.42 per cent to close at N2.72, while Flour Mills of Nigeria shed 7.06 per cent to close at N27.00 per share.
Unity Bank shed 4.76 per cent to close at 40 kobo, while FCMB Group went down by 3.51 per cent to close at N3.02 per share.
Total volume traded increased by 32.15 per cent to 226.473 million shares, worth N2.764 billion, and traded in 3,515 deals.
Transactions in the shares of Mutual Benefits Assurance topped the activity chart with 74.544 million shares valued at N22.838 million. FBN Holdings followed with 23.429 million shares worth N251.880 million, while Access Holdings traded 15.845 million shares valued at N130.192 million.
United Bank for Africa (UBA) traded 15.253 million shares valued at N107.071 million, while NEM Insurance transacted 13.485 million shares worth N62.124 million.
