• Friday, April 12, 2024
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Investors gain N320bn as Guinness, others drive market’s new high

Guinness stops importation of premium spirits to reduce FX exposure

Nigeria’s stock market recorded its first gain this week, rising by N320billion or 1.25 percent as investors on the Bourse bought shares of Guinness Nigeria Plc, Eterna Plc, Meyer Plc, Japaul Gold Plc and Coronation Insurance Plc.

At the close of trading session on Wednesday April 20, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and market capitalisation rose from preceding day’s lows of 47,545.86 points and N25.632trillion respectively to 48,138.71 points and N25.952trillion.

Guinness Nigeria Plc recorded the highest gain on the Bourse, after its share price moved from N74.80 to N82.25, adding N7.45 or 9.96percent; while Eterna Plc rallied from N5 to N5.50, adding 50kobo or 10percent.

Read also: Stock market rises further by 0.40%

The shares of Japaul Gold Plc were also on the buy-side making the price to rise from 30kobo to 33kobo, up 3kobo or 10percent. Others are: Meyer Plc which rose from N1.76 to N1.93, up by 17kobo or 9.66percent, while Coronation Insurance Plc increased from day-open low of 42kobo to 46kobo, adding 4kobo or 9.52percent.

The market’s year-to-date (YtD) positive return increased to 12.69percent. In 4,587 deals, equity traders exchanged 349,560,578 units valued at N3.699billion. Universal Insurance, Zenith Bank, Fidelity Bank, UBA and Mutual Benefit were actively traded stocks on the Exchange.