Stock Market Recovers, Gains N440bn

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 77%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Recovering from prior’s decline, the Nigerian stock market yesterday posted gains as the overall capitalisation rose by N440 billion following price uptick in

The All-Share Index rose by 808.77 per cent, representing a gain of 1.33 per cent, to close at 61,523.57 points. Similarly, the overall market capitalisation value gained N440 billion to close at N33.500 trillion.

The market positive performance was driven by price depreciation in large and medium capitalised stocks which are; Presco, BUA Cement, Conoil, Transcorp Hotel and MTN Nigeria Communications . Analysts at Afrinvest Limited said: ‘tomorrow, we expect the market to extend gains as investors continue to hunt for bargains.’

Also, market breadth returned to positive position, as 43 stocks gained relative to 30 losers. Learn Africa recorded the highest price gain of 9.97 per cent to close at N3.20, per share. Golden Guinea Breweries followed with a gain of 9.95 per cent to close at N2.21 and Chellaram up by 9.77 per cent to close at N1.46, per share.

John Holt appreciated by 9.62 per cent to close at N1.14, while Japaul Gold & Ventures and Omatek Ventures rose by 9.52 per cent each to close at 92 kobo and 46 kobo respectively, per share.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The soaring stock market could drive Bitcoin's price to $47,000 and InQubeta (QUBE) to over 1000% growth in 2023The sudden surge in the stock market will influence the growth of many cryptocurrencies, positioning them for significant increases. The crypto market has experienced turbulent market conditions since the beginning of 2023, and Bitcoin (BTC) has had an underwhelming performance. As the crypto market pushes for a revival, investors are searching for the top cryptos to invest in for enormous returns.
Source: MobilePunch - 🏆 8. / 63 Read more »

NGX: More investor education required for development of Africa's derivatives market | TheCableThe Nigerian Exchange Limited (NGX) says strengthening the development of the derivatives markets on the African continent requires accelerated investor education and capacity building.
Source: thecableng - 🏆 2. / 80 Read more »

Foreign participation in capital market drops by 60% in H1Liquidity challenge in the foreign exchange (FX ) market has continued to worsen foreign investors' participation in the equities market as foreign transactions declined by 60 per cent to ₦62.18 billion in half year (H1), 2023. Based on this, foreign investors have continued to emerge net-sellers on the nation's equities market over the last few years.
Source: GuardianNigeria - 🏆 1. / 94 Read more »