Stock market records highest daily gain in February

Nigeria’s stock market gained about N779billion on Wednesday after rising by 1.17percent, its highest daily gain since the beginning of this month.

The record gain was driven majorly by stocks like Transcorp Hotels, VFD Group, Eterna, Ikeja Hotel and Honeywell Flour Mills.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased from preceding trading day’s lows of 106,574.98 points and N66.495 trillion respectively to 107,822.53 points and N67.274 trillion.

VFD Group share price moved from N48 to N52.80, adding N4.80 or 10 percent. Ikeja Hotel rose from N13.50 to N14.85, adding N1.35 or 10percent.

Read also: Eterna, Ikeja Hotel, Honeywell, others push NGX up by 0.68%

Honeywell Flour Mills increased from N11.51 to N12.66, up by N1.15 or 9.99 percent. Transcorp Hotels rose from N114.65 to N126.10, adding N11.45 or 9.99 percent, while Eterna share price increased from preceding day’s low of N44.30 to N48.70, adding N4.40 or 9.93 percent.

In 15,629 deals, investors exchanged 462,144,552 shares worth N10.233billion. Stocks like Ellah Lakes, Sterling Financial Holdings Company, Zenith Bank, Access Holdings and AIICO Insurance were actively traded.

The market’s year-to-date (YtD) return also increased to 4.76 percent. The market has risen this week by 1.78 percent and this month by 3.18 percent.