The Nigerian stock market experienced a positive upswing on Wednesday, August 7, 2024, bringing a boost of N97 billion to investors’ portfolios. The market capitalization of listed equities saw a 0.18% increase, rising from N55.033 trillion to N55.130 trillion during the trading session.
The All-Share Index also displayed a positive trend, climbing by 0.18% or 171 points to reach 97,098.98, surpassing the previous day’s figure of 96,928.52. This upward movement contributed to a Year-To-Date return of 29.86%, reflecting the market’s overall positive performance.
Market breadth favored the bulls with 27 gainers and 22 losers. Notable gainers included Redstarex, Oando, RT Briscoe, United Capital, and Industrial and Medical Gases, while Neimeth, Honeywell Flour, Sovereign Trust Insurance, Deap Capital Management and Trust Plc, and Ecobank Transnational Incorporated were among the top losers.
The market’s trade turnover showed an increase compared to the previous session, indicating heightened activity and investor participation in the market. This rebound in the stock market signifies renewed confidence and optimism among investors, driving the market towards recovery and growth.
