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  • Business - Market Data
  • Updated: February 08, 2024

Nigerian exchange market cap dips to N55.87 trillion

Nigerian exchange market cap dips to N55.87 trillion

The market capitalisation of the Nigerian Exchange decreased slightly to N55.87 trillion on Wednesday as a result of the muted trading activity.

Investors lost N1 billion as the All-Share Index dropped by 0.002% to 102,106.31 points at the end of trade.

The value of traded units fell by 15.68% to N6.41bn, and the volume of transactions decreased to 341.92 million from 494.19 million on Tuesday.

In addition, there were 9,665 fewer trades made, a 17.82% decrease from the previous two trading days.

There were 19 winners and 36 losers in the market breadth, which is a gauge of investor mood.

Meyer Plc was the top gainer on the gainers' chart, closing at N5.72 after a 10% appreciation; Tripple G gained 9.84% to conclude at N4.13; and Juli Plc's shares advanced by 9.09% to close at N0.84.

However, AIICO Plc, whose shares fell 9.92% to close at N1.18, Cadbury Nigeria Plc, whose shares fell 9.50% to N21.90, and Guinea Insurance Plc, whose shares dropped 8.93% to N0.51 despite the company reporting a profit of N249.43m for the year ended 2023 after N61.02m in 2022, led the losers' table.

The volume and value drivers of the day's market trend were led by Transcorp Plc, Guaranty Trust Holding Company Plc, and FBN Holdings.

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