Nigerian stock market extended its rally further, achieving an astounding market capitalization of over N342 billionOlumide Adesina•Thursday, April 2
Quick overview
- The Nigerian stock market’s capitalization surpassed N342 billion, reflecting a 0.52% increase to N66.159 trillion.
- The All-Share Index rose by 544.06 points, reaching 105,283.67 index points.
- GTCO and Universal Insurance Plc showed strong performance, with 34 out of 51 traded stocks gaining value.
- ABC Transport was the top gainer with a 9.86% increase, while Tripple G faced the largest loss at 10%.
Nigerian stock market extended its rally further, achieving an astounding market capitalization of over N342 billion after the surge of interest in buying and selling focused on several outperforming stocks, according to High-Value Stocks.
Over the past few weeks, the market capitalization has risen by precisely 0.52 percent, resulting in a significant boost to N66.159 trillion. This is a staggering increase from Tuesday (N65.817 trillion). In other news, the All-Share Index (ASI) also saw a rise of 544.06 points, or 0.52 percent. The All Share Index has climbed to 105,283.67 index points
GTCO is also performing well alongside Universal Insurance Plc. The market breadth closed in positive territory, reporting 34 stocks gaining out of 51 traded, while only 17 showed a dip in value.
ABC Transport was close to being the top gainer, with shares increasing by 9.86 percent to end the day at N1.56.
VFD Group also had a strong session, marking an increment with shares closing at N17.10 after a jump of 9.62.
Rumors suggest Learn Africa may rise to midlevel after experiencing a smooth shift to 9.56%, accounting for N3.56. Following PRW Regalins’s latest surge, the stock gained 9.43%, bringing its value up to 58k, resulting in further positive outcomes for Africa and restoring its name. Prudential also rose by 8.63%, with AP shares closing at a forex quote of 15.10.
In contrast, Tripple G registered the highest losses with a 10 percent decrease to N1.98. MRS was not far behind, losing 9.95 percent to stand at N157.5.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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