Domestic equities remain bullish, gain N99bn

Trading on the floor of Nigerian Exchange (NGX) on Wednesday sustained a growth trend, appreciating by N99 billion amid profit taking activities witnessed during the day. 

Market capitalization of listed equities grew by 0.06 per cent to N157.042 trillion from N156.943 trillion reported the previous day.

The NGX All Share Index also appreciated by 154.59 basis points to 244852.21 points from 244692.62 points reported on Tuesday.

The positive performance was supported by gains recorded in the shares of MTN Nigeria, Nahco, Vitafoam among others.

The market breadth was negative with 30 advancers against 36 decliners, bringing year to date return to 57.35 per cent.

A review of the trading during the day showed that Livestock Feeds led gainers table with 10 per cent to close at N9.35 per unit, DeapCapital followed with a gain of 9.86 per cent to close at N5.35 per unit, Abbey Building Society gained 9.78 per cent to close at N12.35 per share, Vitafoam Nigeria added 8.25 per cent to close at N210.00 per unit, FTNCocoa increased by 6.34 per cent to close at N9.45 per share.

Conversely, Neimeth International pharmaceutical topped losers chart, declining 10 per cent to close at N9.00 per unit, International General Insurance trailed with a loss of 9.92 per cent to close at N7.90 per share, JohnHolt fell by  9.73 per cent to close at N13.45 per unit, UhmoReit declined by 8.56 per cent to close at N70.00 per unit, TIP Plc down by 8.42 per cent to close at N30.45 per unit.

Volume of trades declined by 44.00 million, representing 3.46 per cent as investors traded 1.23 billion shares against 1.27 billion shares recorded the previous day. Value of shares traded also went down by 33.66 per cent to settle at N38.398 billion in 54193 deals.

The trading also showed that Sterling Holding Company  led market activities with 565.334 million shares valued at N4.513 billion, FCMB group followed with account of 122.074 million shares valued at N1.458 billion, Access Holdings Company traded 49.541 million shares cost N1.245 billion, Jaiz Bank exchanged 34.886 million shares worth N313.831 million while Fidelity Bank exchanged 28.467 million shares worth N568.949 million.