Emmanuel Ochayi
In a display of resilience, the Nigerian stock market weathered a minor dip on Wednesday, with the equity capitalization decreasing by a marginal 0.03 percent.
While this translated to a dip of N12.86 billion in market capitalization from N37.41 trillion to N37.40 trillion at the day’s close, the market showcased its ability to remain robust.
Join our WhatsApp ChannelThe All-Share Index, which slipped by 23.5 basis points to settle at 68,335.72, down from Tuesday’s figure of 68,359.22, pointed to a nuanced market scenario. Investors traded 566.63 million shares worth N5.38 billion in 8,201 deals, though this fell slightly short of the previous day’s numbers, which stood at 676.73 million shares valued at N5.89 billion in 7,659 deals.
In a noteworthy turn of events, Sunu Assurance emerged as the top gainer of the day, recording a remarkable 10 percent rise in share price, surging from N0.80 kobo to N0.88 kobo per share.
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Berger followed suit, gaining N1.15 kobo to close at N12.75 kobo, which was above its opening price of N11.60 kobo per share.
Oando also saw an increase in share price, rising by N1.30 kobo, moving from N13.30 kobo to N14.60 kobo per share.
Chams added N0.13 kobo to its share price, moving from N1.33 kobo to N1.46 kobo per share. MRS’ share value experienced a notable uptick, rising by N9 to conclude trading at N104 from N95 per share.
On the flip side, Transcorp Hotels led the pack of losers, shedding N5.10 kobo to drop from N51 to N45.90 kobo per share. Ikeja Hotel’s share price witnessed a decrease of N0.30 kobo, closing at N2.72 kobo from N3.02 per share.
NSLTECH lost 7.41 percent, ending trading at N0.25 kobo from N0.27 kobo per share. Consolidated Hallmark Insurance also experienced a 7.41 percent loss, dropping from N1.08 to N1 per share.
GlaxoSmithKline’s share price decreased from N12.20 kobo to N11.30 kobo per share after losing N0.90 kobo during trading.
Oando led the day’s trading with 109.99 million shares valued at N1.59 billion, followed by Courtville with 66 million shares worth N32.56 million. Chams sold 56.38 million shares worth N81.80 million.
Japaul Gold traded 36.63 million shares valued at N35.24 million, while Access Corporation sold 32.53 million shares valued at N563.30 million.
Despite the minor dip, the Nigerian stock market showcased its ability to endure fluctuations, with Sunu Assurance and Berger emerging as bright spots in an otherwise nuanced trading day.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
