Domestic equity market gain N131bn

Trading activities on the floor of Nigerian Exchange sustained growth trend on Wednesday appreciating by N131 billion as bulls continued dominating the market.

Market capitalisation of listed equities increased by 0.23 per cent to N56.737 trillion from N56.606 trillion it closed on Tuesday.

The NGX All Share Index also appreciated by 231.71 basis points to 100299.48 points from 100067.77 points reported the previous day.

Consequently, year to date return surged to 34.14 per cent as NGX recorded 29 gainers against 19 losers.

An analysis of the investment showed that Cornerstone Insurance led gainers table during the day, appreciating by 9.57 per cent to close at N2.29 per unit, RTBriscoe followed with a gain of 9.38 per cent to close at N0.70 per unit, IMG added 9.24 per cent to close at N13.00, UPDC REIT gained 9.00 per cent to close at N5.45 per unit, Caverton Business Solutions up by 6.92 per cent to close at N1.39 per share.

On the contrary, UPL recorded the highest loss, declining by 10 per cent to close at N2.25 per unit, Daar Communications trailed with a loss of 5.88 per cent to close at N0.48 per unit, Omatek fell by 5.80 per cent to close at N0.65 per unit, ,Neimeth international Pharmaceutical Dr lined by 5.62 per cent to close at N1.51 per share while Unity Bank down by 5.49 per cent to close at N1.55 per share

Volume of trades declined by 23.447 million, representing 6.41 per cent as investors traded 342.195 million shares valued at N4.752 billion in 7592 deals against 365.642 million shares worth N4.116 billion exchanged hands the previous day in 8665 deals.

Transactions in the shares of Fidelity Bank led market activities with 137.641 million shares valued at N1.418 billion, Universal insurance followed with account of 21.228 million shares worth N8.565 million, AIICO Insurance traded 14.923 million shares cost N15.552 million, AccessCorp exchanged 14.881 million shares worth N290.941 million while Cornerstone Insurance traded 9.405 million shares valued at N21.340 million.