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Equities market remains positive, gains N804bn

Naija News • 6d ago
Equities market remains positive, gains N804bn
**Naira on the Rise: Nigerian Equities Market Sees Massive Boost** As the week kicks off on a positive note, the Nigerian Exchange (NGX) has announced a significant gain of N804 billion, a development that has further strengthened investors' confidence in the market. This milestone has led to a substantial increase in the prices of stocks, as the market capitalization of listed equities soared to N125.968 trillion, a 0.64 per cent appreciation from the previous day's record of N125.164 trillion. The NGX All Share Index has also experienced a remarkable surge, rising by 1273.79 basis points to 196263.56 points, surpassing the previous day's record of 194989.77 points. While the volume of trades has increased by 45.76 per cent to 1.196 billion, the value of transactions has slightly declined by 1.33 per cent to settle at N28.325 billion in 92099 deals. The top gainers in the market include Okomuoil, FTG Insurance, and Fidson Health Care, which have recorded impressive gains of 10 per cent each. Other notable gainers include Infinity Savings, NPF Micro Finance Bank, and Japaul, which have each seen their share prices appreciate by 9.84 per cent, 9.89 per cent, and 9.99 per cent respectively. On the other hand, TrippleG, TIP Plc, Multiverse, Living Trust, and EllahLakes have been the hardest hit, with losses of 10 per cent each. Japaul's shares have led the charge in terms of market activity, with 459.411 million units traded for N1.908 billion. Chams Plc, Jaiz Bank, NSLTech, and Mutual Benefits have also been actively traded, with Chams Plc's 47.931 million shares changing hands for N205.871 million. This latest development in the NGX is a testament to the growing confidence of investors in the Nigerian equities market. As the market continues to experience growth, it is essential for investors to remain vigilant and make informed decisions to maximize their returns. The NGX's positive trend is a silver lining for the Nigerian economy, and it is expected to have a ripple effect on the overall market.
Source: Original Article. AI-enhanced version.