Investors Gain N16.54bn as NGX ASI Sees Modest Rise Amidst Mixed Trading

Samuel Mobolaji

Investors in the Nigerian stock market smiled to the bank today, as their investments yielded a whopping N16.54 billion gain. The NGX All-Share Index edged up by 3 basis points to close at 100,568.60 points.

The marginal gain was driven by the impressive performance of banking giants GTCO, ZENITHBANK, and UBA, which rose by 0.11 per cent, 1.35 per cent, and 0.88 per cent respectively.

The market capitalization soared to N56.95 trillion, as investors’ wealth increased by N16.54 billion. The year-to-date return also rose to 34.50 per cent, indicating a significant gain for investors since the beginning of the year.

Although trading activity was subdued, with a 59.44 per cent decline in transaction value, investors still found opportunities to make gains. ELLAHAKES led the volume chart with 110.68 million shares traded, while UCAP topped the value chart with deals worth N778.61 million.

The market breadth closed positive, with 20 stocks, led by TANTALIZER’s 8.89 per cent surge, outperforming 13 laggards. Investors who took positions in these stocks would have seen significant gains, adding to their overall wealth. As the market continues to evolve, investors will be looking for more opportunities to grow their investments.

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Unionists link rising crime, suicide to economic hardship, poverty

Unionists raised alarm over rising cases of suicide, crime, murders and mental illness which they linked to economic hardship and poverty.

Expressing concern over the hardship in the country, they charged President Bola Ahmed Tinubu’s led regime to address the scourge so as to prevent mass protests that could break out from any part of the country.

According to them, the country is sitting on keg of gunpowder which may blow up any moment as the masses are being pushed to the wall on daily basis with anti-masses policies.

In a media chat, Comrade Aliu Katsina, who refused the use of his union in print said, “although mental illness has always been happening among humanitt, but it has increased astronomically because of poverty, hardship and idlessness after weeks of hopelessness in getting payable jobs coupled with bitting hunger on daily basis.”

On her part, Comrade Hajia Hassan, during her chat with during event in Lagos said, “pages of our newspapers or listening to radio are all pointing to the fact that Nigerians are sitting on keg of gunpowder which may blow at any direction. It’s it unimaginable that some mothers who carried pregnancy for nine months and fathers are now hawking their children for sale to make end meet. It is painful to read that a father killed his 17 years child with shovel out of mere provocation? People are going about today in bottled-up anger because of negative governance.”

Though the menace of suicide and crime cut.across age, gender, and socioeconomic status, for long, but has grown to disturbing proportion, particularly, with the nation’s economic situation in recent times, that has taken most basic commodities beyond the reach of many Nigerians.