Domestic equities gain N278bn

Domestic equities market remained on bullish trajectory, gaining N278 billion as bulls continue to dominate trading activities.

Market capitalisation of listed equities appreciated by 0.17 per cent to N162.052 trillion from N161.774 trillion on Tuesday.

The NGX All Share Index also increased by 429.92 basis points to 252841.39 points, from 252411.29 points.

The market rally lifted by gains recorded in the shares of MTN Nigeria, Fidson health care, Berger Paint and 36 other companies.

The market breath was positive with 38 gainers against 29 losers, bringing year to date return to 62.27 per cent.

An analysis of the investment showed Livestock Feeds, Daar Communications recorded gain of 10 per cent each to close at N10.45 and N1.87 respectively. CWG and Fidson health care also added 10 per cent each to close respectively at N23.10 and N113.30 per unit.

Berger Paint followed with a gain of 9.97 per cent to close at N140.10 per share.

On the contrary, NCR and Cornerstone Insurance topped losers chart, dropping by 10 per cent each to close at N179.10 and N5.40 per unit. Zichis Agro Allied industries trailed with a loss of 9.89 per cent to close at N36.36 per share, FirstHoldco declined by 9.87 per cent to close at N71.20 per share, Neimeth International pharmaceutical down by 9.66 per cent to close at N10.75 per unit, Eterna depreciated by 9.59 per cent to close at N33.00 per unit.

Volume of trades declined by 344.00 million, representing 16.97 per cent as investors traded 1.683 billion against 2.027 billion reported the previous day. The value of transactions up by 24.77 per cent to settle N109.438 billion in 76557 deals.

Transactions in the shares of FirstHoldco led market activities with 564.135 million shares valued at N43.613 billion, United Bank for Africa followed with account of 167.243 million shares cost N6.980 billion, Access Holdings company traded 104.700 million shares cost N2.708 billion , Fidelity Bank exchanged 96.033 million shares worth N2.095 billion while Wema Bank traded 69.964 million shares cost N2.466 billion.