Domestic equities gain N364bn

The domestic equity market on Wednesday returned to a bullish run, appreciating by N364 billion as gains in the shares of Aradel Plc, Cadbury Nigeria Plc, Nigerian Breweries, Oando and others lifted market activities.

With the positive performance, Market capitalisation of listed equities increased by 0.57 per cent to N64.520 trillion from N64.156 trillion reported the previous day.

The NGX All Share Index also appreciated by 590.99 basis points to 104549.74 points from 103958.75 points traded on Tuesday.

Although the number of firms closed in a negative direction was 38 in number, the positive performance recorded by 26 companies impacted on the market, forcing year to date return to increase to 1.58 per cent at the end of trading for the day. 

An analysis of the investment showed that Aradel Plc led gainers table with 10 per cent to close at N594.00, Chellaram followed with a gain of 9.98 per cent to close at N5.40 per unit, Stanbic IBTC gained 9.92 per cent to close at N71.45 per share, UPL increased 9.64 per cent to close at N5.12 per share while Daar Communications grew by 9.09 per cent to close at N0.84 per share.

On the contrary, Mcnichols Plc, Caverton Business Solutions topped losers’ chart, dropping by 10 per cent each to close at N1.44 and N2.07 per share respectively. Thomas Way followed with an account of 9.80 per cent to close at N1.84 per share, Veritas Kapital fell by 9.79 per cent to close at N1.29 per unit, Conhall Plc went down by 9.00 per cent to at N2.73 per unit.

The volume of transactions declined by 120.612 million, representing 22.24 per cent as investors traded 421.617 million shares valued at N14.997 billion in 16256 deals against 542.229 million shares worth N13.363 billion in 15561 deals.

Trading the shares of Universal insurance led market activities with 33.619 million shares valued at N217.231 million, Fidelity Bank followed with account of 31.905 million shares cost N621.756 million, FCMB group traded 23.128 million shares worth N269.525 million, Japaul Gold exchanged 20.214 million shares valued at N43.399 million, Veritas Kapital sold a total of 17.089 million shares cost N22.045 million.