Nigeria stock market extends gain by 0.81%

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By Olawunmi Ashafa

Lagos, Nov. 24, 2022 The Nigerian Exchange Ltd. (NGX) on Thursday gained N203 billion as market capitalisation closed at N25.384 trillion from N25.181 trillion recorded on Wednesday.

Also, the All-Share Index (ASI) increased marginally by 372.56 basis points or 0.81 per cent gain to close at 46,604.94 as against 46,232.37 posted the previous day.

Consequently, the year-to-date (YTD) return rose to 19.1 per cent.

Airtel Africa and BUA Foods stocks drove the market’s performance.

Market breadth closed negative as 15 stocks gained, while 20 lost.

A breakdown of the price movement table showed that Ecobank Transnational Incorporated (ETI) topped the gainers’ table with a gain of 6.50 per cent to close at N10.05 per share.

Airtel Africa trailed with a gain of 6.30 per cent each to close at N1,350 per share.

Bua Foods was up by 6.11 per cent to close at N63.40, while Nigerian Breweries appreciated by 5.84 per cent to close at N48 per share.

Also, Eternal Plc appreciated by 5.56 per cent to close at N5.70 per share.

Conversely, Nestle Nigeria and Star led the losers’ table, dropping by 10 per cent each to close at N1,071 per share, respectively.

Computer Warehouse followed with a decrease of 9.09 per cent to close at 80k per share.

Lafarge Wapco shed 6.22 per cent to close at N21.10, while International Breweries declined by 5.38 per cent to close at 80k per share.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions increasing by 17.84 per cent.

A total of 187.6 million shares valued at N2.17 billion were exchanged in 3,434 deals.