Investors at NGX rake in N307bn gains

Investors in the Nigerian stock market raked in a N307 billion gain amid increased buying interest.

This comes as Nigerian Exchange Limited market capitalisation rose by N307 billion, or 0.45 percent, to close at N68.412 trillion, compared with N68.105 trillion on Tuesday.

Similarly, the All-Share Index (ASI) also climbed by 488.73 points, or 0.45 percent, to settle at 108,849.83.

The gain was driven by strong buying interest in medium- and large-cap stocks such as GTCO, Tantalizer, Fidelity Bank, Zenith Bank, and Nigerian Breweries.

This marks the fourth consecutive session of gains since last week.

In spite of the upward trend, the market breadth also closed positive with 52 gainers and 17 losers.

On the gainers’ table, FG142027S1 rose by 22.75 percent, ending the session at N120.00, while UPDCREIT soared by 10 percent to close at N6.60 per share.

Meyer Plc also grew by 10 percent, closing at N8.80, and Beta Glass increased by 9.98 percent, settling at N146.05 per share.

Also, The Initiates Plc gained 9.95 percent, closing at N6.08 per share.

Linkage Assurance lost 6.61 percent, closing at 1.13, and Africa Prudential shed 5.60 percent to close at N16.00 per share.

Similarly, UPDC Real Estate Investment Trust declined by 4.46 percent to close at N3 per share.