Equity market continues positive mood, gains N32bn

Nigeria’s equity market on Wednesday closed northward, appreciating by N32 billion.

Market capitalization of listed equities increased by 0.05 per cent to N59.955 trillion from N59.923 trillion reported on Tuesday.

The NGX All Share Index also appreciated by 51.84 basis points to 98944.42 points from 98892.58 points traded the previous day.

The market positive performance during the day was driven by buying interest across major stocks, signaling increased investors confidence in the market.

As a result year to date return went up to32.33 per cent as 31 companies closed in green against 16 firms that closed in red.

An analysis of the investment showed that Eunisell, Oando and Unilever Nigeria Plc led gainers table with 10 per cent each, to close at N3.19 per unit, N89.65 and N20.90 per unit respectively. Mcnichols followed with a gain of 9.79 per cent to close at N1.57 per unit, Regal Insurance added 9.62 per cent to close at N0.57 per unit.

On the contrary, Aradel recorded the highest loss with 9.99 per cent to close at N562.90 per unit, Northern Nigeria Flour Mills trailed with a loss of 9.93 per cent to close at N34.00, Conhall Plc fell by 6.12 per cent to close at N1.38 per unit, UPDC dipped by 5.81 per cent to close at N1.46 per share while EllahLakes declined by 4.31 er cent to close at N4.00 per unit.

Volume of transactions increased by 307.27 million, representing 51.99 per cent increase as investors traded 283.74 million shares valued at N8.29 billion in 7966 deals against 591.010 million shares worth N24.844 million share cost N6987 deals.

Trading in the shares of United Bank for Africa led market activities with 66.031 million shares valued at N1.792 billion, Nigerian Breweries followed with 37.373 million shares cost N1.046 billion, AccessCorp traded 17.573 million shares cost N351.895 million, Oando Plc traded 17.093 million shares valued at N1.476 billion, Zenith exchanged 16.107 million shares cost N617.593 million.