Equity market gains N332bn

Trading activities on the floor of Nigerian Exchange (NGX) Wednesday sustained a bullish run, appreciating by N332 billion as gains in the shares of GTCO, Dangote Sugar, FBNHoldings, Cadbury Nigeria and others impacted positively on the market.

Market capitalisation of listed equities increased by 0.51 per cent to N65.221 trillion from N64.889 trillion recorded on Tuesday.

The NGX All Share Index also increased by 536.54 basis points to 105324.89 points from 104788.35 points reported the previous day.

An analysis of the investment showed that Guinea Insurance led gainers table with 10 per cent to close at N0.88 per unit, Eterna Plc followed with a gain of 9.96 per cent to close at N30.35 per unit, Cadbury Nigeria Plc added 9.95 per cent to close at N24.30 per share, International General Insurance gained 9.91 per cent to close at N2.33 per unit, FBNHoldings increased by 9.56 per cent to close at N32.18 per share.

On the contrary, May and Baker topped losers’ chart, declining by 9.88 per cent to close at N7.75 per unit, Academy press trailed with a loss of 9.33 per cent to close at N2.72 per unit, Thomas Way dipped by 9.31 per cent to close at N1.85 per share, Deap Capital declined by 6.80 per cent to close at N0.98 per unit, TIP depreciated by 6.72 per cent to close at N3.47 per share.

Volume and value of trades went up by 585.532 million, representing 124.13 per cent and N8.923 billion or 44.86 per cent as investors traded 1.057 billion shares valued at N28.812 billion in 15080 deals against 471.707 million shares worth N19.889 billion exchanged hands the previous day in 14600 deals.

Transactions in the shares of Access Holding Company led market activities with 473.217 million shares worth N1.256 billion, FBNHoldings followed with account of 99.066 million shares valued at N3.005 billion, UACN Nigeria traded 46.385 million shares worth N167.009 million, Zenith Bank exchanged 47.729 million shares valued at N2.227 billion, AIICO Insurance exchanged 33.170 million shares cost N56.244 million.