Bulls return as equities market gains N683bn
The local equities market on Wednesday returned to positive performance, growing by N683 billion.
Market capitalisation of listed equities improved by 0.56 per cent to N122.236 trillion from N121.553 trillion reported the previous day
The NGX All Share Index also appreciated by 1,106.72 basis points to 190427.96 points from 189321.24 points.
The positive performance recorded during the day was driven by gains in the shares of Skyavn, Betaglass, Seplat Energy, Zenith Bank, Pesco, FCMB and 27 other companies.
The market breath was negative with 41 decliners against 33 advancers, bringing year to date return to 22.37 per cent
Volume of trades increased by 2.469 billion, representing 205.92 per cent to 190427.96 points from 189321.24 points traded on Tuesday. Valued of transactions also up by 2.81 per cent to settle at N61.883 billion in 68693 deals.
An analysis of the trading during the day showed that SkyAVN and Mansard Insurance and Betaglass led gainers table with 10 per cent each to close respectively at N128.70, N17.05 and N498.50 per unit.
Zichis Plc followed with a gain of 9.95 per cent to close at N14.36 per unit, Japaul Gold added 9.90 per cent to close at N3.33 per share.
On the contrary, Deap Capital topped losers’ charity declining by 10 per cent to N6.30 per unit, Mecure trailed with a loss of 9.99 per cent to close at N84.25 per share, Vitafoam Nigeria dipped by 9.98 per cent to close at N116.85 per unit, Union Dicon declined by 9.80 per cent to close at N18.40 per share, Abbey Building Society fell by 9.62 per cent to close at N10.80 per unit.
Transactions in the shares of FCMB group led market activities with 2.940 billion shares valued at N35.879 billion, Chams Plc followed with account of 57.453 million shares worth N241.364 million, NSLTech exchanged 48.616 million shares cost N97.185 million, Mutual Benefits traded 37.687 million shares valued at N165.293 million while Access Holdings Company traded 33.399 million shares valued at N842.696 million
