Nigeria witnessed a 0.27% increase in its equities market on Wednesday, a promising development that sparked investor interest across the board. The surge was primarily fueled by notable advancements in key players like Northern Nigeria Flour Mills (NNFM) and other major gainers, culminating in a positive close for the market.
“Investor interest in NNFM and other major advancers caused the market’s positive close.”
NNFM emerged as the frontrunner, surging impressively from N118.70 to N130.55, marking an increase of N11.85 or 9.98%. Following closely behind was Honeywell Flour Mills with a substantial rise from N19.10 to N21, reflecting an uptick of N1.90 or 9.95%. University Press and Learn Africa also made significant gains during this bullish period.
“NNFM rose most from N118.70 to N130.55, adding N11.85 or 9.98 percent.”
In particular, University Press saw its stock value climb from N5.10 to N5.61, showcasing an increase of 51 kobo or 10%. Similarly, Learn Africa experienced a notable uptrend from N4.10 to N4.51, adding 41 kobo or 10% to its valuation.
As reported by businessday.ng,
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalization continued their upward trajectory on Wednesday compared to the previous day’s figures of 111,606.22 points and N70.377 trillion respectively.
“The Nigerian Exchange Limited All-Share Index furthered its northward movement on Wednesday.”
By reaching new highs of 111,902 .61 points and a total market capitalization of approximately N70 .564 trillion , investors were buoyed by these encouraging numbers that signaled sustained growth within the sector.
Japaul Gold , Fidelity Bank , Custodian Investment , GTCO , and FCMB Group emerged as some of the most actively traded stocks on the exchange during this period .
In a flurry of trading activity comprising16 ,711 deals , investors exchanged512 ,170 ,339 stocks valued atN17 .115 billion .
This positive momentum underscored a renewed sense of optimism among investors who eagerly participated in transactions worth billions during this dynamic trading session .
“Investors exchanged over half a billion shares valued at billions during active trading.”
The steady performance displayed by Northern Nigeria Flour Mills (NNFM), alongside other prominent gainers such as Honeywell Flour Mills and University Press clearly indicates growing confidence within Nigeria’s equities market landscape .
With strategic moves driving key players towards growth trajectories coupled with increasing investor participation , the near future appears promising for stakeholders keenly observing these developments unfold within Nigeria’s financial sphere .
As highlighted by experts in the field ,
“We are seeing significant potential for sustained growth within Nigeria’s equities market as evidenced by recent positive trends.”
In conclusion,
the recent upswing experienced within Nigeria’s equities market showcases promising signs for both established players like NNFM
and emerging entities looking to make their mark within this vibrant economic landscape .
**Attribution:**
This article was written based on information provided by businessday.ng ([source](https://businessday.ng/markets/article/nigeria-stocks-rise-further-by-0-27/)).
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