Nigeria’s stock market witnessed a slight recovery on Wednesday, gaining 0.02% after prior losses. The Nigeria Exchange Ltd. reported an increase in market capitalization and a rise in the All-Share Index. Key companies like UH Real Estate Investment Trust and Africa Prudential saw significant gains, while overall trading volume and value decreased compared to the previous day.
On Wednesday, Nigeria’s stock market experienced a minor recovery, noting a 0.02 percent rise after a series of losses. The Nigeria Exchange Ltd. (NGX) reported an increase in market capitalization by N11 billion, moving from N67.168 trillion to N67.179 trillion. The All-Share Index also saw an uplift of 0.02 percent, climbing 17 points to finish at 107,798.99, up from the previous day’s 107,781.79.
The Year-To-Date (YTD) return for the market remains positive at 4.73 percent. UH Real Estate Investment Trust was the top gainer, with a remarkable increase of 9.94 percent, ending at N44.25 per share. Other notable gainers included Africa Prudential with a 9.90 percent rise, Caverton Offshore Support Group with a 9.87 percent increase, and Lasaco Assurance with a rise of 6.92 percent.
In terms of trading activity, a total of 245,516,922 shares valued at N8.414 billion were exchanged across 10,098 transactions, which shows a decrease in both volume and value from the previous day’s 363,516,922 shares worth N10.118 billion over 13,753 trades. Access Holdings led the trading volume with 36.55 million shares, followed by Zenith Bank with 26.79 million shares and Sterling Financial Holdings with 11.25 million shares.
In summary, Nigeria’s stock market has shown some resilience with a slight gain following a downward trend. Key players such as UH Real Estate Investment Trust and Africa Prudential registered significant increases, contributing to the overall market recovery. Despite a decrease in trading volume, investor engagement remains robust, suggesting ongoing interest in the market as it seeks to regain momentum.
Original Source: gazettengr.com
