Investors buoy confidence in market with N420bn

Investors on the Nigerian Exchange have increased their confidence in the equities market with N420 billion.

The investments on Thursday pushed the market capitalisation to N56.73 trillion.

The NSE’s NGX All-Share Index (ASI) also rose by 743.66 points to hit a new high of 100,335.3 points, a level last seen on February 27, 2024.

The outstanding performance was driven by MTN Nigeria and TRANSPOWER, which recorded significant increases in their share prices.

The most traded stocks by volume were TRANSCORP with 301.36 million units, STRELINGNG with 33.32 million units, FBNH with 23.21 million units, UBA with 18.38 million units, and ZENITHBANK with 17.08 million units.

The market activity improved as 9,708 deals were recorded for the day, higher than the 9,338 deals reported in the previous session.

The top gainers of the day included: MTNN: +10 percent to close at N201.30; DANGSUGAR: +10 percent to close at N50.60; TRANSPOWER: +9.99 percent to close at N351.30; JULI: +9.96 percent to close at N4.97; NASCON: +9.92 percent to close at N47.65.

FTNCOCOA, GUINNESS, IKEJAHOTEL, REDSTAREX led the losers list.