2024: Equity market gains N666bn on first day of trading

Domestic equity market Tuesday opened trading for the year on a bullish note, gaining N666 billion.


Market capitalisation of listed equities increased by 1.63 per cent to N41.583 trillion from N40.917 trillion reported the previous day.


The NGX All Share Index also appreciated by 1217.11 basis points to 75990.88 points from 74773.77 points recorded at close of transaction on Friday.


A review of the investment during the day showed that five companies recorded 10 per cent gain at the close of trading on Tuesday. AIICO Insurance, Daar Communication, Ikeja Hotel appreciated by 10 per cent each to close at N0.88, N0.99 and N6.60 per share respectively while Infinity Savings and Linkage Assurance also gained 10 per cent each to close at N6.60 and N0.88 per unit respectively.


On the contrary, Cadbury Nigeria Plc, Mecure and Thomas Way topped losers chart with 10 per cent each to close at N17.10, N10.80 and N2.43 per unit respectively.


Prestige Insurance and Conhall Plc dipped by 9.80 per cent and 9.52 per cent to close respectively at N0.46 per unit and N1.33 per share.


Volume of activities increased by 147.178 million, representing a growth of 39.93 per cent as investors traded 515.807 million shares valued at N5.573 billion in 9370 deals against 368.629 million shares worth N12.820 billion exchanged hands the previous day in 6732 deals.


Transactions in the shares of Mutual Benefits led market activities with 101.631 million shares valued at N51.627 million, Transnational Corporation of Nigeria followed with account of 46.646 million shares cost N440.665 million, Jaiz Bank traded 26.992 million shares cost N51.439 million, United Bank for Africa sold a total of 20.074 million shares worth N513.852 million, AccessCorp traded 16.032 million shares cost N376.146 million.


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