Bola Tinubu's inauguration as president of Nigeria, investors on the Nigerian Exchange Limited made N1.5 trillion

Nigerian Exchange Limited Made N1.5 trillion, In Three-Month

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On the first day of trading following Bola Tinubu’s inauguration as president of Nigeria, investors on the Nigerian Exchange Limited made N1.5 trillion, setting a three-month high for the market.

At the end of trading on Tuesday, the Market Capitalization increased to N30.349 trillion, surpassing the previous peak set on February 27—the first trading day following the last presidential election.

The NGX All-Share Index, in a similar vein, rose by 2,764.47 base points, or 5.22 percent, to close at 55,738.35. As of Tuesday, the Year-To-Date returns increased from 3.36 percent on Friday to 8.76 percent.

The All-Share Index rose by 0.29 percent to conclude at 52,973.88 points as the NGX recovered session-to-session losses to close the previous week on a positive note. An increase in investor interest in MTNN (+0.56%), Zenith Bank (+0.93%), and Geregu (+1.64%) helped the market perform better.

In all, 9,916 transactions totaling 1,078,230,806 billion shares worth N15.799 billion were made on the NGX floor during the first trading session under Tinubu’s presidency.

As 199,620,670 million shares of the HoldCo, valued at N 2.445 billion, were exchanged, shares of Access Holdings led the value and volume charts.

Additionally traded were 127,937,125 million shares of FBN Holdings for N1.748 billion. Remember that the bank had not yet turned in its 2022 annual reports?

Market breadth, a measure of investor sentiment, rose as seen by 64 businesses registering gains and 12 companies’ stocks losing value.
The Banking, Consumer, and Industrial Goods indexes led the gainers’ chart by 8.20%, 6.48%, and 6.08% respectively, on to gains by Zenith Bank (+10.00%), NB (+10.00%), and Dangote Cement (+7.41%). Performance across tracked indices was positive. Similar gains were made by the Oil & Gas and Insurance indexes, which saw gains of 4.04 percent and 2.29 percent, respectively, due to purchase activity in Eterna and Lasaco.

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