Nigerian Stock Market: Conoil, Oando, Others Tumble, As Access, Transcorp, UBA Soar

Nigeria’s Capital Market Records N263.8bn Equity Cap Surge As Investors Dive In

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Nigeria’s capital market on Tuesday witnessed a modest yet noteworthy increase in equity capitalization marking a 0.71 percent gain.

This may appear relatively small on paper, but signifies a substantial N263.8 billion surge in the market’s total valuation, which closed at N37.41 trillion at the end of the trading day.

Previously, the stock market’s capitalization stood at N37.14 trillion, indicating a remarkable N263.83 billion boost in market value within a single trading session.

Investors, it seems, have begun to seize diverse opportunities within the market.

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Bolstering this positive trajectory, the All-Share Index (ASI) experienced a commendable rise of 345.24 basis points, culminating in a closing figure of 68,359.22.

This upswing from the 67,877.17 ASI achieved the day before hints at a market that’s poised for further growth.

Trading activity also demonstrated resilience, with a total investment value of N5.89 billion. Investors actively participated in 7,659 deals, trading a substantial 676.73 million shares.

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Although this figure fell short of the N8.92 billion invested in 515.28 million shares across 8,357 deals the previous day, it still reflects a vibrant market sentiment.

Amidst this dynamic landscape, Ellah Lakes took the lead among gainers, with a significant N0.33 kobo increase in share price, rising from N3.30 kobo to N3.63 kobo per share. Berger and ETranzact also showed notable gains, reflecting an array of opportunities across various sectors.

However, it’s not all gains, as NSLTECH took the top spot on the losers’ table, shedding 10 percent and dropping from N0.30 kobo to N0.27 kobo per share. This showcases the inherent risks in the market, highlighting the importance of investors’ astute choices.

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Universal Insurance spearheaded the day’s trading activities, with 235.15 million shares valued at N48.16 million exchanging hands. UBA and Transcorp followed closely, demonstrating the market’s diverse investment options and investor appetite for different sectors.

As Nigeria’s capital market continues to evolve, investors are keeping a keen eye on these fluctuations, strategically positioning themselves to navigate the ever-changing landscape.

With a backdrop of economic growth and innovation, the Nigerian market remains an intriguing destination for both local and international investors seeking diverse opportunities.

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