Nigeria’s stock market has gained ₦305 billion to consolidate on its performance.
The stock market began the trading week with a loss but bounced back after the loss.
Trading activities for the third trading day of the week ended on a positive note as FBH, Thomas Wyatt and Multiverse shares lifted the market.
The Nigerian Exchange Limited (NGX) on Wednesday made gains worth ₦305 billion to increase investors’ wealth.
Investors had gained ₦166 billion on Tuesday after a loss of ₦259 billion on Monday following dips in the value of some medium-cap stocks.
The NGX All-Share Index and the market capitalisation rose by 0.78% to 71,808.64 and 39.294 trillion respectively.
Have You Read: Equities Market Capitalisation Gains ₦166 Billion
Also, the year-to-date gains of the index rose to 40.11%.
This bullish trend was particularly driven by the share price appreciation of the top gainers for the day.
Some of these are; Thomas Wyatt (9.93%), FBN Holdings (9.91%), Multiverse (9.90%), Ecobank Transnational Incorporated (9.88%), and Infinity Trust Mortgage Bank (9.70%).
The following stocks recorded losses: Axa Mansard Insurance, Guinea Insurance, and Oando Plc, whose shares dipped by 9.69%, 9.68%, and 9.13% respectively.
On sectorial performances, the trend was quite bearish, as three out of the five sub-sector gauges tracked closed in the red zone.
NGX Insurance, NGX Consumer Goods, and NGX Industrial Goods indices suffered losses of 2.00%, 0.11%, and 0.02% respectively.
However, tier-one banking stocks drove the Banking sector to a massive 5.01% gain.
You May Also Like: NGX: See How Stock Market Performed In November
The banking stocks, GTCO, United Bank for Africa, AccessCorp, and Zenith Bank recorded the biggest volume and value.
