Investors make N165bn as equities market rebounds, appreciates by 0.43%

Investors in Nigeria’s capital market raked in N185 billion profit on Tuesday, December 5, 2023, as trading activities on the floor of the Nigerian Exchange Group closed positively as the All-Share Index gained 0.43% and increased to 71,250.17 from 70,946.83 recorded at the close of the previous trading day.

Market capitalization increased today by N165.99 billion to N38.99 trillion from N38.82 trillion recorded at the close of the previous trading day, the market turnover also increased to N11.01 billion from N7.10 billion.

Thirty nine stocks advanced and 16 stocks declined, while 63 stocks remained unchanged in 6, 904 deals.

Secure Electronic Technology Plc led other gainers with 10% growth to close at N0.77, from its previous price of N0.70 while Multiverse Mining and Exploration, Sunu Assurances Nigeria and FBN Holding Plc are amongst other gainers that also grew their share prices by 9.95%, 9.92% and 9.86% respectively.

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Abbey Mortgage Bank Plc led other price decliners as it shed 9.88% off its share price to close at N1.55 from its previous close of N1.72 followed by FTN Cocoa Processors, Daar Communication and Coronation Insurance (WAPIC) Plc amongst other losers that also shed their share prices by 9.09%, 8.82% and 7.14% respectively.

On the volume scale, UAC Nigeria Plc traded 61.711million units of its shares in 78 deals, valued at N947.412million while United Bank for Africa (UBA) Plc traded 56.161 million units of its shares in 418 deals, valued at N1.195billion and Guaranty Trust Holdings (GTCO) Plc which traded 22.997 million units of its shares in 226 deals, valued at N908.187 million.

According to the value chart, NIDF topped with N2.222b worth of stocks traded in 54 deal followed by AIRTELAFRI with stocks valued at N2.120b in 31 deals and MTNN trading N1.326b worth of stocks in 249 deals.

By Babajide Okeowo

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