Prime Business Africa
The Nigerian Exchange (NGX) said the market capitalisation of the stock market increased by N961.74 billion to N156.54 trillion on Thursday.
According to the NGX data, the market capitalisation grew from N155.58 trillion recorded on Wednesday, after the all-share index (ASI) expanded by 1,498.75 basis points.
The all-share index closed at 243,958.73 ASI, above the 242,459.98 ASI reported the day before.
Join our WhatsApp ChannelTop Five Gainers
- International Breweries’ share price increased by N1.10 kobo, from N11 to N12.10 kobo per share.
- First HoldCo’s share value grew by N6.30 kobo, from N63.25 kobo to N69.55 kobo per share.
- Abbey Mortgage Bank share appreciated by N0.80 kobo, to end trading at N8.90 kobo, having opened with N8.10 kobo.
- TransExpress’ share ended trading at N3.26 kobo per share, from N2.97 per share – indicating an increase of N0.29 kobo.
- Honeywell Flour’s share value was up by N1.50 kobo, after closing at N17, from N15.50 kobo per share.
Top Five Losers
- Thomas Wyatt share price depreciated by N0.30 kobo, dwindling from N3 to N2.70 kobo per share.
- Geregu recorded a N91.70 kobo decline in its share price to end trading at N825.70 kobo, after opening with N917.40 kobo.
- MCNichols reported a N0.60 kobo decline in its share price to end trading at N5.55 kobo, after opening with N6.15 kobo per share.
- UPDC lost N0.40 kobo in its share price, to sell at N3.95 kobo, down from N4.35 kobo per share.
- Neimeth reported a decline of N0.80 kobo, from the previous share price of N9.80 kobo, to end trading at N9 per share.
Top Five Trading Equities
- First HoldCo reported that 1.25 billion shares valued at N85.61 billion were traded on its floor.
- Zenith Bank recorded 43.82 million shares valued at N4.64 billion.
- Access Holdings saw investors trade 40.99 million of its shares valued at N1.02 billion.
- FCMB recorded 17.71 million shares exchanged on its floor, worth N188.29 million.
- Fidelity Bank reported that traders exchanged 16.01 million shares valued at N315.16 million.
NGX Now World’s Best-Performing Stock Market
According to a report by Bloomberg, the Nigerian bourse is the best-performing stock in the world out of 92 global bourses tracked year-to-date.
The publication said NGX overtook South Korean equities to attain the top spot following a 67 percent appreciation in dollar terms so far this year, with the latter’s Korea Composite Stock Price Index (Kospi) gaining 66 percent.
According to the report, South Korea lost the spot following a technical bear market this week, which was driven by investors reassessing the outlook for artificial intelligence (AI)-related stocks.
This led to the Kospi depreciating by 22 percent from its June 19 peak, amid the South Korean won depreciating by 5 percent against the dollar this year.
However, Nigeria’s stock market outperformed due to macroeconomic reforms, improved foreign exchange liquidity, renewed investor confidence, firmer oil prices, and the naira appreciating about 4 percent against the dollar since January.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
