|By Adejumo Adekunle –
-Nigerian Stock Market Surges with Over N677bn Investor Profit
–Ikeja Hotel, Beta Glass, Legend Internet Lead Top Gainers as Market Capitalisation Rises
The Nigerian stock market extended its bullish momentum on Thursday, June 20, with investors raking in a whopping ₦677 billion gain as market sentiment remained strong.
Market capitalisation surged by 0.92 percent, climbing from ₦73.681 trillion on Wednesday to ₦74.358 trillion at the close of Thursday’s trading session. Similarly, the All-Share Index (ASI) advanced by 1,074.26 points, closing at 117,861.13 compared to the previous 116,786.87.
The gain was driven by increased buying interest in medium- and large-cap stocks, particularly Ikeja Hotel, Beta Glass, Legend Internet, University Press, Eterna, and 38 other equities.
The session ended with a positive market breadth, recording 43 gainers against 20 losers, a sign of strong investor confidence.
Top Gainers
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Ikeja Hotel led the chart, gaining 10% to close at ₦15.40 per share.
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Beta Glass followed closely with a 9.98% increase, settling at ₦276 per share.
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Legend Internet jumped 9.92% to end the session at ₦7.20 per share.
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University Press appreciated by 9.85%, closing at ₦6.02 per share.
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Eterna Plc rose 9.82% to close at ₦42.50 per share.
Top Losers
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Guinea Insurance dropped by 9.21%, closing at ₦0.69.
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Haldane McCall shed 5.88%, finishing at ₦4.00 per share.
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C&I Leasing fell 5.84% to ₦4.35.
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McNichols Plc declined 5.58%, closing at ₦2.20.
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Fidson Healthcare lost 4.65%, settling at ₦41.00 per share.
Trading Volume & Value
Investors exchanged 893.97 million shares valued at ₦22.03 billion across 17,257 deals.
This marks a volume increase from the 640.08 million shares worth ₦26.01 billion traded in 19,727 deals during the previous session.
Champion Breweries topped the activity chart with 332.29 million shares worth ₦2.27 billion.
Guaranty Trust Holding Company (GTCO) followed, recording ₦5 billion in value from 62.67 million shares.
PZ Cussons, Zenith Bank, and Access Corporation also featured prominently in the day’s most active trades.
Meanwhile, the Chairman of the Nigerian Exchange Group (NGX), Umaru Kwairanga, has called on stakeholders in the financial ecosystem to embrace Artificial Intelligence (AI) to boost efficiency and elevate customer experience in capital market operations.
