Investors gain N503bn in Christmas Eve trading

Investors on the Nigerian Exchange Group (NGX) gained N503 billion in the final trading session before Christmas on Tuesday.

This increase follows a surge in the share prices of stocks such as MRS, Ikeja Hotel, and Multiverse, among others.

By the close of the five-hour trading session, the equity capitalization had risen to N61.9 trillion from the previous day’s N61.4 trillion. The benchmark All-Share Index (ASI) also rose, increasing to 102,186.03 from 101,356.15 recorded on Monday.

The market breadth was positive, with 38 stocks advancing, 21 declining, and 65 remaining unchanged across 8,100 deals.

MRS, Ikeja Hotel, and Multiverse were the top gainers, seeing share price increases of 10%, 9.95%, and 9.90%, respectively, to close at N217.80, N11.05, and N5.55, up from N198.00, N10.05, and N5.05 per share.

On the flip side, Thomaswy, Caverton, and Wapic led the decliners, with share prices falling by 10%, 7.35%, and 5.03%, closing at N1.71, N2.27, and N1.70 from the previous N1.90, N2.45, and N1.79 per share.

In terms of trading volume, UBA led with 51 million shares traded in 563 deals, followed by Universal Insurance, which traded 49 million shares in 217 deals. CI Leasing recorded 37 million shares in 65 deals.

On the value index, UBA also led, trading stocks worth N1.8 billion in 563 deals, followed by GTCO with N1 billion in 179 deals. Zenith Bank also contributed, trading shares valued at N692 million across 500 deals.