Nigeria Stock Market Rebounds, All Share Index Rises By 0.05%

Date:

April 26, 2024.

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Azonuchechi Chukwu.

Bullish sentiment returned to the Nigerian stock market on Thursday, following investors’ interest in MTN Nigeria, Transcorp Hotel, United Bank of Nigeria(UBA), among other advanced equities

Specifically, the market capitalisation, which opened at N55.494 trillion, gained N26 billion or 0.05 per cent to close at N55.520 trillion.

The All-Share Index also rose by 0.05 per cent or 48 points to close at 98,169.30, compared to 98,121.30 recorded on Wednesday.

As a result, the Year-To-Date (YTD) return rose to 31.29 per cent.

Market breadth closed negative with 24 declined equities and 16 advanced others on the floor of the Exchange.

On the losers’ side, Sterling Nigeria led by 9.69 per cent to close at N3.82, Computer Warehouse Group trailed by 9.57 per cent to close at N5.20 per share.

International Energy Insurance lost 9.30 per cent to close at N1.17, The Initiative Plc declined by 9.09 per cent to close at N1.80 and Omatek dropped 8.43 per cent to close at 76k per share.

On the flip side, Transcorp Hotel led by 9.75 per cent to close at N96.50, Livestock Feed Plc followed closely by 9.42 per cent to close at N1.51 per share.

Tantalizers also gained 9.38 per cent to close at 35k, Sunu Assurances rose by 7.44 per cent to close at N1.30 and Wapic Insurance added 6.15 per cent to close at 69k per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 31.95 per cent.

A total of 297.20 million shares valued at N6.52 billion, exchanged in 7,417 deals, in contrast to

395.75 million shares valued at N9.58 billion were exchanged in 7,907 deals posted previously.

Zenith Bank led the activity chart in volume and value with 48.49 million shares worth N1.77 billion, Access Corporation followed by 39.88 million shares valued at N639.98 million.

Transnational Corporation sold 28.47 million shares valued at N397.34 million, UBA traded 22.94 million shares valued at N523.55 million and Nigerian Breweries transacted 20.29 million shares worth N560.16 million.(www.naija247news.com).


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Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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