Equities market maintains upward trend with slight 0.04% increase

Nigeria’s equities market continued its upward trend on Wednesday, albeit with a slight increase of 0.04 percent or N16 billion.

The banking, insurance, and oil & gas sectors saw increased demand, while industrial goods stocks were sold off by investors.Eterna Plc emerged as the top gainer, with its share price rising from N13.85 to N14.80, representing a 6.86 percent increase.

On the other hand, CWG experienced the highest decline, with its share price dropping from N9.50 to N8.55, a decrease of 10 percent.The positive close resulted in a year-to-date return of 31.42 percent, indicating a strong performance in the market.

This week alone, the market has seen a 0.23 percent increase, while the month has recorded a 1.46 percent rise. During the trading session, stock investors participated in 6,165 deals, exchanging a total of 397,560,768 shares valued at N4.699 billion.

By the end of Wednesday’s equities trading session, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and the equities market capitalisation rose from the previous day’s figures of 67,326.12 points and N36.988 trillion, respectively, to 67,353.25 points and N37.004 trillion.