BusinessDay
NigeriaDecides2023

Stock market sees first gain this week

...as investors buy Nahco, Honeywell, others

Nigeria’s equities market on Thursday recorded its first gain of the week, though on a slight note (+0.01percent or N12billion), driven by stocks like Nahco Plc, Honeywell Flour Mills Plc, and Academy Press Plc.

At the close of trading session on the Nigerian Exchange Limited (NGX), the market’s positive returns year-to-date (YtD) increased to +20.71percent. Week-to-date (WtD), the stock market has decreased by 0.51percent while month-to-date (MtD) it is down by 0.49percent.

Despite closing slightly in green on Thursday, market watchers expect it to continue to trade mixed with minimal activity level.

Read also: Nigeria stock market rises further by 0.56% as Presco, FBNH, others gain

The market’s key performance indicators – the All-Share Index (ASI) and Market Capitalisation increased from preceding trading day’s lows of 51,556.54 points and N27.794trillion to 51,563.73 points and N27.806trillion.

Nahco topped league of advancers after its share price moved up from N8.50 to N9.30, adding 80kobo or 9.41percent.

It was followed by Honeywell Flour Mills which increased from N2.74 to N2.97, after adding 23kobo or 8.39percent; and Academy Press which rallied from N1.57 to N1.72, up by 15kobo or 9.55percent.

Jaiz Bank, GTCO, Sterling Bank, UBA and Nahco were top 5 traded stocks as investors in 3,874 deals exchanged 143,288,221 shares valued at N1.756billion.

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