Investors gain N348bn as stocks rise further by 0.19%

Nigeria’s equities market moved further high on Thursday by 0.19 percent or N348billion, thanks to stocks like Northern Nigeria Flour Mills (NNFM), Skyway Aviation Handling Company Plc, Honeywell Flour Mills, Chellaram, Red Star Express and other major gainers that pushed the market higher. This week, the market has risen by 1.11 percent.

The share price of NNFM moved from N50.10 to N55.10, adding N5 or 9.98 percent. Skyway Aviation Handling Company Plc rose from N36.40 to N40, adding N3.60 or 9.89 percent.

Honeywell rose from N8.50 to N9.35, adding 85kobo or 10 percent. Chellaram increased from N5.40 to N5.94, adding 54kobo or 10percent, while Red Star Express also moved from N4.55 to N5, adding 45kobo or 9.89 percent.

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased further from preceding day’s lows of 104,549.74 points and N64.520trillion respectively to 104,744.43 points and N64.868 trillion. The market’s return year-to-date (YtD) rose to 1.77 percent.

Shares of FBN Holdings, Veritas Kapital, Universal Insurance, Fidelity Bank, and FCMB Group were actively traded as investors in 13,716 deals exchanged 497,363,256 shares valued at N11.841billion.

For the year ended December 31, 2024, Geregu Power proposed a final dividend of N8.50 per ordinary share, subject to appropriate withholding tax and approval which will be paid to shareholders whose names appear in the Register of Members as at the close of business on March 13, 2025.