Local Stock Market Records N9bn Gain

The Nigerian Exchange (NGX) Limited recorded a N9 billion gain by the end of trading activities on Monday.

Local Stock Market Records N9bn Gain
Local Stock Market Investors Gain N9bn

This was influenced by buying activities in Oando, Transcorp, Access Holdings and others, as investors had little time to digest the release of inflation numbers for last month.

The National Bureau of Statistics (NBS) said Nigeria’s inflation increased by 22.22 per cent in April 2023 from 22.04 per cent in March 2023.

Oando gained 9.91 per cent to trade at N6.10, NCR Nigeria appreciated by 9.65 per cent to N2.81, Transcorp rose by 9.65 per cent to N2.84, Ikeja Hotel improved by 9.62 per cent to N1.71, and Julius Berger expanded by 8.77 per cent to N31.00.

Conversely, CWG shed 9.66 per cent to N1.87, NEM Insurance depreciated by 9.45 per cent to N4.12, Royal Exchange fell by 7.41 per cent to 50 Kobo, Cutix went down by 4.13 per cent to N2.32, and AIICO Insurance shrank by 3.39 per cent to 57 Kobo.

The insurance space went down by 1.41 per cent, and the banking counter depreciated by 0.02 per cent, while the consumer goods sector appreciated by 0.03 per cent, the industrial goods index improved by 0.02 per cent, and the energy sector closed flat.

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