NSE Traded in Positive Territory as Major Indicator Rises

NSE Traded in Positive Territory as Major Indicator Rises

ABUJA, Nigeria – Bulls returned to the Nigerian Stock Exchange (NSE) as it was last seen trading in the positive territory, following the All-share index, a major indicator in the stock market, grew by around 0.3% to settle at 26,968.79 points on the last day of the trading week.

In the equity market capitalization, the country has also reached the N13 trillion level with the stock market recording a total of 6,071 trade deals and 608.86 million of shared units valued at around n3.76 billion.

Among the top gainers in the index is the Niger Insurance Plc, which recorded a 10% gain today to close the market at N0.22, followed by the 8.16% advanced gained by Cornerstone Insurance to settle at N0.53.

The Africa Prudent Plc also closed at N4.25, after recording a 6.25% gains, while the Etisalat Transnational traded with 6.11% advance to settle at N6.95. The Mutual Benefit also surged for the day, recording a 5% gain to settle at N0.21.

On the flip side, among the top losers for the session includes the Deap Capital. It was considered the worst-performing stock after losing around 10% of its share price, bringing it down to a low of N0.36. Omatek Ventures also dropped, losing 10% of its stock value to settle at N0.45. Included in the biggest losers for the session are Neimath Pharmaceuticals, Linkage Assurance, and Interlink Technology, which declined by 9.68%, 9.43%, and 9.06%, respectively.

The Neimath Pharmaceuticals closed the session at N0.56, while the Linkage Assurance settled at N0.48 and the Interlink Technology closing at N2.91 points.

Based on stock volume, the top traders include Niger Assurance. It was named the most active trader in the Nigerian Stock Market after it attracted around127.2 million units if stocks traded across three deals, which can be valued around N27.99 million. The Veritas Kapital Assurance was also among the top trades by volume as it recorded 121.2 million units of stocks traded in four deal, which can be valued around N24.24 million.

Meanwhile, the Zenith Bank Plc also recorded 63.5 million units of shares traded in 748 deals worth around N1.21 billion, while the UBA tracked a 46.04 million unit of stocks traded in 248 deals, which can be valued by around N340/67 million. Japaul Oil also made the list of top trades by volume after recording a 30.16 million unit of stocks traded across 18 deals, which can be valued around N6.04 million in total.

Overall, the sentiment in the market was mostly positive, and the recent numbers are a significant milestone for the bourse’s cap.

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